TMAC Resources Inc
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Agnico snaps up Nunavut miner TMAC in $287M friendly deal
Only two weeks after the federal government blocked a takeover of struggling Nunavut gold miner TMAC Resources by China’s Shandong Gold Mining, TMAC has found itself in the arms of a Canadian white knight – Agnico Eagle Mines. On Jan.…
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Shandong Gold takeover of TMAC to undergo national security review
Months after shareholders of TMAC Resources approved a takeover of the company by China’s Shandong Gold Mining, the federal government has ordered a national security review of the transaction. The US$149-million, $1.75-per-share deal was announced in May, with more than…
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Shandong Gold to buy TMAC Resources for US$149M
In the latest Chinese acquisition of a Canadian gold miner, Shandong Gold is buying TMAC Resources (TSX: TMAC) and its Hope Bay gold project in Nunavut for US$149 million. The news follows Zijin Mining’s acquisition of Continental Gold in March for C$1.3…
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GOLD: TMAC releases Hope Bay PFS with new 4,000 t/d plant scenario
NUNAVUT – TMAC Resources has released key results from a prefeasibility study completed for its wholly owned Hope Bay property, which includes an operating mine. Last year, Hope Bay produced 139,510 oz. of gold; with release of its fourth quarter…
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TMAC launches strategic review of Hope Bay in Nunavut
Production in the fourth quarter at TMAC Resources’ struggling Hope Bay mine in Nunavut were at the low end of expectations, and the company has begun a strategic review process. The deferral of mining in the BTD East Limb due to…
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MINING PEOPLE: Asanko, Engineer, Metso, Novo, Palamina, Revival, Roscan, Southern Silver, Stratabound, Strongco, TMAC, Yorbeau
Ghana-focused miner Asanko Gold has announced the resignation of William Smart from its board. Judith Mosely has been appointed to the board effective Jan. 1, replacing Smart. Engineer Gold, focused on the advancement of the Engineer Gold property in B.C.,…
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GOLD: TMAC collars portal at Madrid North
NUNAVUT – Construction has started on the Madrid North underground portal at Madrid North gold deposit, part of Toronto’s TMAC Resources 100% owned Hope Bay mine 65 km east of Bathurst Inlet. Development will access the first production stopes in…
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GOLD: TMAC drills more high grades at Doris North BTD Extension zone
NUNAVUT – Toronto-based TMAC Resources continues its underground expansion and in-fill drilling at the Doris North BTD Extension zone at the Hope Bay gold mine 65 km east of Bathurst Inlet. The work has confirmed the continuity of high grade…
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GOLD: TMAC raises US$40M with royalty deal
TORONTO — In return for a cash payment of US$40 million, gold miner TMAC Resources has sold a 1.5% NSR royalty to Maverix Metals. Maverix already holds a 1% NSR royalty on TMAC’s Hope Bay gold mine in Nunavut. TMAC’s…
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ACQUISITION: Australia’s St Barbara to acquire Atlantic Gold
Australian gold producer St Barbara (ASX: SBM) is acquiring 100% of Canadian gold producer Atlantic Gold (TSXV: AGB) in a deal valued at $802 million. St Barbara’s offer represents a 41.1% premium to Atlantic’s closing share price on May 14 and a 40.8% premium…
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MINING PEOPLE: Lithion Energy, Superior Gold, and TMAC Resources
Lithion Energy Corp. of Vancouver has name Warren Gilman as chairman and Alex Granger as CEO. Gilman is a mining engineer and a founder of CIBC’s Global Mining Team in 1988. Granger is also managing director of Xela Group, a…
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GOLD: TMAC enjoys first positive earnings in Q1
TORONTO – TMAC Resources has recorded its first positive earnings for Q1 2019. The quarterly revenue was C$67.9 million (compared to C$33.0 million in the same quarter a year earlier). That translated into a comprehensive profit of C$7.2 million for…
