Gold Mining News - Page 13 of 1166

Asante Gold declares commercial production at Ghana mine

Fast News, Financial Matters, M&A, M&A October 30, 2024

Asante Gold announces US$525M financing to support Ghana growth plans

Asante Gold (CSE: ASE) says it expects to raise US$525 million in two stages to fund its growth plans in Ghana, where it operates the Bibiani and Chirano gold mines…

Exploration, News, Precious Metals October 29, 2024

Compass Gold signs mill deal to tap Tarabala deposit in Mali within months

Shares in Compass Gold (TSXV: CVB) doubled on Tuesday after Malian business group SMAT agreed to toll-treat ore from its Tarabala deposit within five months, as the company awaits its…

AngloGold to close $2.5 billion Centamin buy in November

News, Regulatory Issues October 29, 2024

AngloGold to close US$2.5B Centamin buy in November

Centamin (LSE: CEY) shareholders have voted in favour of AngloGold Ashanti’s (NYSE: AU; ASX: AGG; JSE: ANG) proposed US$2.5-billion takeover of the Egypt-focused gold miner. Centamin noted that the necessary…

Commodities Markets, Exploration, News, Precious Metals October 28, 2024

Heliostar expands high-grade gold at Ana Paula, uncovering a new zone

Drill results from Heliostar Metals’ (TSXV: HSTR; US-OTC: HSTXF) Ana Paula gold project in Guerrero, Mexico, suggest potential for a resource increase and a new, near-surface find. The Vancouver-based junior…

Environment, Politics, Precious Metals, Regulatory Issues October 28, 2024

US recycles over billion dollars in gold from electronics

The United States led all nations in terms of gold recycled from discarded electronics, according a new study by London-based metals trader The Gold Bullion Company. Using waste data from…

Osisko acquisition boosts Gold Fields’ growth strategy

Financial Matters, M&A, M&A, News, Precious Metals, Regulatory Issues October 28, 2024

Gold Fields completes Osisko buy for ownership of Windfall

South Africa’s Gold Fields (NYSE: GFI; JSE: GFI) said on Monday it had completed the $2.2-billion acquisition of Osisko Mining, which makes it the sole owner of the Windfall project…

Gold equities outshine bullion as miners surge on record metals prices, analysis shows

Commodities Markets, News, Precious Metals, Stock Markets/Investing October 25, 2024

Gold stocks starting to outshine bullion: Canaccord report

Higher gold and silver prices are finally jump-starting the stock prices of the companies that mine the metals, Canaccord Genuity Capital Markets analysts said in a report this week. Equities…

M&A, News October 25, 2024

Agnico Eagle takes 13% stake in ATEX Resources

Agnico Eagle Mines (TSX: AEM; NYSE: AEM) has taken a 13% stake in copper-gold explorer ATEX Resources (TSXV: ATX) with an investment totalling $55 million, which the latter will use…

$Pentwater Capital Management LP, the second-largest investor in Turquoise Hill Resources (TSX: TQR) has increased its stake in the Canadian company while rejecting again Rio Tinto’s C$43-a-share offer for the 49% of the miner it doesn’t already own. The activist investor disclosed it had bought around 1.24% of common stock at C$41.01 per share in Turquoise Hill, for a total of C$102.5 million on September 15. It means it currently owns 13.77% of Turquoise Hill’s shares Rio Tinto agreed on earlier this month to take over Turquoise Hill after sweetening an initial offer by around 20% to “a best and final” $3.3 billion. Penwater, which joined minority shareholder SailingStone Capital Partners in publicly opposing Rio Tinto’s offer as too low, restated its discontent. “The proposed price implies an equity value of C$8.65 billion, which is a fraction of the free cash flow that Pentwater expects Turquoise Hill to generate over the next decade,” it said in the statement. Pentwater noted it expects Turquoise Hill to generate over C$10.5 billion of free cash flow through 2030 assuming a $3.50 per pound copper price and almost C$14.2 billion of free cash flow assuming copper prices of $4 per pound. It also said it was weighing options to thwart the deal, including but not limited to the possible exercise of dissent rights or other legal action. Rio’s offer equires two thirds of shareholders, including Rio Tinto’s, to vote in favour. More than 50% of minority shareholders must approve it. Rio’s final bid represents a 67% premium from Turquoise Hill’s closing price of C$25.68 a share on March 11, the trading day prior to the initial proposal. Pentwater has said the proposed premium is unacceptable for a mine that it expects to be “the third largest copper and gold mine in the world with a mine life in excess of 90 years.” Some analysts believe that Rio Tinto will need to increase its offer to win over some minority shareholders and so hold a direct majority stake in massive Oyu Tolgoi copper-gold mine in Mongolia. The global miner, which has mined copper from Oyu Tolgoi’s open pit for a decade, will have the task to conclude building the underground section of the mine. Once finished, it will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes per year at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.$