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.…
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…
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…
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…
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…
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.,…
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…
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…
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…
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…
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…
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…