The merger of Coeur d’Alene Mines (CDE-N, CDM-T), Bolnisi Gold (BSG-A) and Palmarejo Silver and Gold (PJO-V) is scheduled to go ahead in the last quarter of the year now that Coeur has finished due-diligence investigations.
Coeur is offering 2.715 Coeur shares for each Palmarejo share and 0.682 of a share for one Bolnisi. The merger, announced in early May, had originally been expected to close in August. Coeur’s due-diligence period was extended twice to allow for full investigations on Bolnisi.
The three companies have a joint management committee overseeing development of the Palmarejo silver project in Chihuahua state, Mexico. A pre-feasibility study on the economics of a combined open pit and underground mine is under way, which may supplant earlier plans for a pure open-pit operation.
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