- Write by:
-
Tuesday, November 9, 2021 - 10:48:59
-
544 Visit
-
Print
Mining News Pro - Australia’s Newcrest Mining has entered into an agreement to acquire all outstanding common shares of Pretium Resources it does not already own in a deal that values the Canadian miner at $2.8 billion.
Pretivm’s board of directors has unanimously recommended shareholders vote in favour of the transaction and have entered into voting support agreements with respect to all of the Pretivm shares that they control. Pretivm is the owner of the Brucejack operation in the highly prospective Golden Triangle region of British Columbia, Canada.
Last month, Pretium made a new high-grade gold exploration discovery at the Golden Marmot zone on the Brucejack property, located roughly 3.5km north of its Valley of the Kings deposit.
The company said it had received assays for the first nine drill holes, eight of which intersected gold with a highlight of 53.5m grading 72.5 grams per tonne gold including 50cm grading 6,700g/t gold and 3,990g/t silver.
Brucejack began commercial production in July 2017 and is one of the highest-grade operating gold mines in the world. Pretivm’s technical report of March 9, 2020, estimated gold production of 311koz per annum at an all-in sustaining cost of $743 per ounce of gold over a projected 13-year mine life.
Brucejack and surrounding tenements are within the traditional territories asserted by the Tsetsaut Skii km Lax Ha (TSKLH) and Tahltan Nation, and in the Nass Area of Nisga’a Nation as defined in the Nisga’a final agreement.
Brucejack is approximately 140 km from Newcrest’s majority-owned and operated Red Chris mine, located on Tahltan territory. Newcrest will become the operator and 100% owner of Brucejack following completion of the transaction, which is currently targeted for Q1 of calendar 2022.
“We are delighted to be expanding our presence in this highly prospective region in British Columbia. Brucejack is a Tier 1 mine in a Tier 1 jurisdiction and will deliver immediate production, free cash flow and earnings diversification to Newcrest and will fit seamlessly into our long-life, low-cost portfolio,” Newcrest CEO Sandeep Biswas said in a media release.
“The combination of Newcrest and Pretivm will create the leading gold miner in British Columbia’s Golden Triangle, operating both the Brucejack and Red Chris mines,” Biswas said.
Short Link:
https://www.miningnews.ir/En/News/617018
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the ...
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of ...
The state-run Chilean Copper Commission (Cochilco) will soon revise its copper price outlook, which will be considerably ...
Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado ...
Truck drivers in Chile staged protests Monday in the mineral-rich north of the country and around the capital Santiago, ...
Democratic Republic of Congo’s government has lifted a suspension order on a Congolese copper and cobalt operation ...
Peru’s copper production came in essentially flat for March at about 219,000 metric tons, government data showed on ...
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
No comments have been posted yet ...