Shareholders OK Leagold Acquisition Of Brio Gold
Shareholders of Brio Gold Inc. (TSX: BRIO) and Leagold Mining Corp. (TSX: LMC) have agreed to a previously announced all-stock deal in which Leagold would acquire Brio, the companies report. Approval is still needed from the Ontario Superior Court of Justice. Officials anticipate the merger will be completed in the second quarter. "The acquisition of Brio advances our strategy to create an intermediate Latin American gold producer,” says Neil Woodyer, chief executive officer of Leagold. “With four operating mines and two development projects in Mexico and Brazil, the combined operations have the potential to produce over 700,000 ounces of gold by 2020; this gives Leagold a strong platform for further growth within Latin America." Brio Gold’s portfolio includes three operating gold mines and a fully permitted, fully constructed mine that was on care and maintenance and currently is in development to be restarted. Brio Gold is expected to produce 205,000 to 235,000 ounces of gold in 2018 and at full-run rate is expected to produce approximately 400,000 ounces of gold annually in 2019. Upon closing of the transaction, Brio shareholders will own 42% of Leagold.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Sandstorm: Portfolio Assets Post ‘Exploration Success’
Friday April 13, 2018 8:11
Gold streaming and royalty company Sandstorm Gold Ltd. (NYSE American: SAND, TSX: SSL) has added a number of new royalties. Also, for properties on which Sandstorm already has agreements, some companies have reported new resource discoveries. The latter includes Yamana Gold Inc.’s Chapada mine in Brazil, Equinox Gold Corp.’s Aurizona mine in Brazil and Metanor Resources Inc.’s Bachelor Lake mine in Quebec, Sandstorm says. Meanwhile, during the last quarter of 2017 and the first quarter of 2018, Sandstorm acquired 11 royalties and an option to acquire one additional royalty on exploration-stage projects in Canada, Mexico and Peru. Sandstorm paid C$1.7 million for these and now has 178 royalties in its portfolio. “The assets in Sandstorm’s portfolio continue to report exploration success, which is resulting in resource growth and mine life extension,” says Nolan Watson, president and chief executive officer.