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Shareholders Approve Alamos-Richmont Merger

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Shareholders have approved the merger between Alamos Gold Inc. (TSX, NYSE: AGI) and Richmont Mines Inc. (TSX: RIC). Following special meetings, the deal – announced in September, under which Alamos will acquire all outstanding shares of Richmont -- was approved by 98.46% of votes cast by Alamos shareholders and 92.56% of votes cast by Richmont shareholders. The transaction is expected to close on Nov. 23, subject to regulatory approvals. "With the acquisition of Richmont, we are strengthening our asset base and profitability,” says John A. McCluskey, president and chief executive officer of Alamos.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Iamgold Drill Program ‘Increasing Our Confidence’ At Saramacca

Friday November 17, 2017 08:46

Iamgold Corp. (TSX: IMG; NYSE: IAG) is upbeat about its ongoing drilling program at the Saramacca project near the Rosebel Gold Mine in Suriname. The company undertook a 22,000-meter diamond drilling program following the release of an initial resource estimate in September. Assay results reported have been received from 37 drill holes, with the program continuing. Results from infill drill holes include 39 meters grading 3.47 grams of gold per tonne and 57 meters grading 2.56 g/t. One of the expansion drill holes was six meters grading 67.39 g/t, with more between 3 and 4.5g/t. "The ongoing drilling program continues to deliver positive results, not only increasing our confidence in the existing resources, but extending mineralization below the initial resource pit shell, which is expected to have a positive impact on future resource estimates,” says Craig MacDougall, senior vice president for exploration. “This, coupled with the ongoing engineering studies, is expected to allow us to upgrade the project to a reserve status in 2018 and to target production for 2019."

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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