China's Zijin Mining to buy Guyana Goldfields for $238 million

Section:

By Tom Daly
Reuters
Friday, June 12, 2020

BEIJING -- China's Zijin Mining said today it would acquire Guyana Goldfields for C$323 million ($238 million), bringing an end to a protracted takeover battle for the Canada-listed gold miner.

Toronto-based Guyana Goldfields announced on June 3 that it had received a binding proposal from an unnamed overseas-based miner to acquire the company, valuing it around 35% higher than a previously accepted offer from Silvercorp Metals.

... Dispatch continues below ...


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Today Zijin, one of China's biggest state-controlled gold producers, was confirmed as the mystery bidder behind the higher all-cash offer to buy Guyana Goldfields, whose flagship asset is the Aurora gold mine in Guyana, for C$1.85 per share. ...

... For the remainder of the report:

https://www.reuters.com/article/us-guyana-goldfields-zijin-mining/chinas...

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