Shareholders OK Leagold Acquisition Of Brio Gold
Shareholders of Brio Gold Inc. (TSX: BRIO) and LeagoldMining Corp. (TSX: LMC) have agreed to apreviously announced all-stock deal in which Leagold would acquire Brio, thecompanies report. Approval is still needed from the Ontario Superior Court ofJustice. Officials anticipate the merger will be completed in the secondquarter. "The acquisition of Brioadvances our strategy to create an intermediate Latin American gold producer,”says Neil Woodyer, chief executive officer of Leagold. “With fouroperating mines and two development projects in Mexico and Brazil, the combinedoperations have the potential to produce over 700,000 ounces of gold by 2020;this gives Leagold a strong platform for further growth within LatinAmerica." Brio Gold’s portfolio includes three operating gold mines anda fully permitted, fully constructed mine that was on care and maintenance andcurrently is in development to be restarted. Brio Gold is expected toproduce 205,000 to 235,000 ounces of gold in 2018 and at full-run rate isexpected to produce approximately 400,000 ounces of gold annually in 2019. Upon closing of the transaction, Brioshareholders will own 42% of Leagold.
By Allen Sykoraof Kitco News; asykora@kitco.com
Sandstorm:Portfolio Assets Post ‘Exploration Success’
Friday April 13, 2018 8:11
Gold streaming androyalty company Sandstorm Gold Ltd. (NYSE American: SAND, TSX: SSL) has added anumber of new royalties. Also, for properties on which Sandstorm already hasagreements, some companies have reported new resource discoveries. The latterincludes Yamana Gold Inc.’s Chapada mine in Brazil, Equinox Gold Corp.’sAurizona mine in Brazil and Metanor Resources Inc.’s Bachelor Lake mine inQuebec, Sandstorm says. Meanwhile, during the last quarter of 2017 and thefirst quarter of 2018, Sandstorm acquired 11 royalties and an option to acquireone additional royalty on exploration-stage projects in Canada, Mexico andPeru. Sandstorm paid C$1.7 million for these and now has 178 royalties in itsportfolio. “The assets in Sandstorm’s portfolio continue to report explorationsuccess, which is resulting in resource growth and mine life extension,” saysNolan Watson, president and chief executive officer.
By Allen SykoraFor Kitco News
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