Equinox to buy junior miner Premier Gold in all-stock deal worth $612-million Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Equinox Gold Corp. Equinox is buying Premier Gold Mines Ltd. Premier in an all-stock takeover transaction worth about $612-million that should result in a stalled gold mining project in Ontario finally moving forward.
Like many transactions announced in the gold industry over the past few years, this one sees only a small premium being paid by the acquirer.
Comet Resources says drilling is expected to commence in the new year at its 50 per cent-owned Santa Teresa Gold Project in the Baja California region of Mexico where Comet has already booked a maiden high-grade resource of 369,000 tonnes at a solid 7.47 g/t gold. The company said local contractors were already on the ground in preparation for the start-up of fresh drilling around the historical workings.
Comet Resources says drilling is set to commence in the new year at its 50 per cent-owned Santa Teresa Gold Project in the Baja California region of Mexico where Comet has already booked a maiden high-grade resource of 369,000 tonnes at a solid 7.47 g/t gold.
Orion to pay US$225M for 50% interest in Greenstone Gold Mines December 16, 2020
Premier Gold Mines and
Centerra Gold have entered into an agreement with an affiliate of the Orion Mine Finance Group pursuant to which Orion will acquire Centerra’s 50% interest in the Greenstone Gold Mines (GGM) partnership for cash consideration of US$225 million plus certain contingent payment obligations of approximately US$75 million.
Premier currently owns the other 50% of GGM. Meanwhile, affiliates of Orion beneficially own or control approximately 13.9% of the outstanding common shares of Premier and, as such, Orion is considered a ‘related party’ and an ‘insider’ of Premier for the purposes of applicable securities laws and stock exchange rules.
Equinox Gold Corp. signs all-stock deal to acquire Premier Gold Mines Ltd.
by The Canadian Press
Last Updated Dec 16, 2020 at 7:12 am EDT
VANCOUVER Equinox Gold Corp. has signed a friendly agreement to acquire Premier Gold Mines Ltd. which will spin out its Nevada assets in a new U.S.-focused gold miner to be called i-80 Gold Corp.
Under the deal, Equinox Gold will acquire Premier’s interest in the Hardrock Project in Ontario, the Mercedes Mine in Mexico and the Hasaga and Rahill-Bonanza properties in Red Lake, Ont.
Premier’s South-Arturo and McCoy-Cove properties will be held by i-80 Gold, which will also complete Premier’s previously announced acquisition of the Getchell Project, all in Nevada.
The Daily Chase: Aphria and Tilray confirm deal; Macklem warns on rising loonie
Aphria and Tilray have confirmed the deal that BNN Bloombergâs David George-Cosh reported was in the works yesterday afternoon. And the details are pretty much bang in line with what Daveâs reported: the combined company will be called Tilray, Aphria will be in control (with Irwin Simon leading the combined company, and Aphria shareholders owning almost two-thirds of the company), and $100 million in annual costs savings are envisioned. Weâll go in depth on the rationale for the deal, how the new Tilray will be positioned on the global stage, and what the chain reaction could be for the pot industry.