Equinox Gold signs all-stock deal to acquire Premier Gold Mines
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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 Equinox Gold Corp. logo is shown in a handout. THE CANADIAN PRESS/HO December 16, 2020 - 6:25 AM
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.
Equinox to buy Premier Gold in US$480M all-stock deal
Premier Gold s Mercedes mine in Mexico. Credit: Premier Gold.
Equinox Gold (TSX: EQX; NYSE-AM: EQX) is buying fellow miner Premier Gold Mines (TSX: PG), which will spin out its Nevada assets in a new U.S.-focused gold miner to be called i-80 Gold Corp.
The all-stock deal valued at $612 million (US$480 million) hands Equinox Gold 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.
Orion to acquire Centerraâs 50% stake in Canadian gold mine for $225m
Orion will acquire Centerraâs stake in Greenstone Gold Mines Partnership whose principal asset is the Hardrock Mine Project located in Ontario, Canada
Orion to acquire stake in Canadian gold mine. (Credit: Pixabay/keesstes.)
Orion Mine Finance Group has agreed with Centerra Gold and Premier Gold Mines to acquire Centerraâs 50% stake the Greenstone Gold Mines Partnership in Canada.
Orion is acquiring the stake for $225m along with certain contingent payment obligations of about $75m. Premier will continue to hold the remaining 50% stake in the gold mine.
GGMâs principal asset is the Hardrock Mine Project located on the Trans-Canada Highway near Geraldton, Ontario, Canada. The project is claimed to be a highly significant large-scale, permitted, mine development opportunity in North America.
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