Minera Alamos raises $135M to pay for Equinox assets
Minera Alamos (TSXV: MAI) said it closed a C$135 million (US$98 million) equity financing that will help the company pay for three Nevada assets it’s in the process of buying…
M&A
Anglo-Teck deal seen spurring rival bids: analysts
Anglo American’s (LSE: AAL) proposed acquisition of Teck Resources (TSX: TECK.A TECK.B, NYSE: TECK) could end up putting both companies in play as rival miners scramble to find large-scale copper assets,…
AngloGold buys Augusta Gold in Nevada push
AngloGold Ashanti (JSE: ANG; NYSE: AU) agreed to buy Canadian explorer Augusta Gold (TSX: G; US-OTC: AUGG) for about $152 million (US$111 million) in cash to further expand its Nevada footprint. Augusta…
Is Glencore’s $22B asset shift a prep for Rio merger?
Glencore (LSE: GLEN) has transferred almost $22 billion in foreign assets into its Australian subsidiary in a sweeping global restructuring that could lay the groundwork for a future merger with…
Ghana backs Chifeng Jilong Gold Mining’s acquisition of Wassa mine
China’s Chifeng Jilong Gold Mining has received Ghana’s approval to proceed with the acquisition of Golden Star Resources (TSX: GSC), which owns 90% of the Wassa gold mine in the country’s southwest,…
Rising gold price and reserve depletion to drive M&A, Bank of America says
The total transaction value of mergers and acquisitions in the second quarter of the year reached US$2.86 billion in twelve deals, with Chinese buyers acquiring gold assets and smaller companies…
Guyana Goldfields rejects Gran Colombia merger offer, supports Silvercorp bid
Guyana Goldfields (TSX: GUY; US-OTC: GUYFF) has rebuffed an unsolicited proposal from Gran Colombia Gold (TSX: GCM; US-OTC: TPRFF) for an all share, three-way merger that includes Gold X Mining…
Silvercorp to buy Guyana Goldfields in $105M deal
Silvercorp Metals (TSX: SVM; NYSE: SVM) is buying Guyana Goldfields (TSX: GUY) in a $105 million (US$75 million) cash and stock deal that creates a diversified precious metals producer with…
MegumaGold to merge with Osprey Gold
Canadian juniors MegumaGold (CSE: NSAU; US-OTC: NSAUF) and Osprey Gold Development (TSXV: OS; US-OTC: OSSPF), with projects in Nova Scotia’s largest historic bullion district, are merging their businesses to create…
Endeavour Mining ends takeover talks with Centamin
Endeavour Mining (TSX: EDV) has walked away from a potential 1.47 billion lb. (US$1.9-billion) acquisition of Centamin (TSX: CEE; LON: CEY), citing lack of information on the targeted company’s assets….
Consolidation will continue in the gold sector, B of A says
A new report from Bank of America Securities puts the total deal value of global gold mergers and acquisitions last year at US$20.19 billion — the highest in nine years…
Merger talks between Endeavour Mining and Centamin deteriorate
Egypt-focused gold miner Centamin (TSX: CEE; LON: CEY) has accused Endeavour Mining (TSX: EDV) of making it difficult for the company to assess the value of a potential business combination…