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Gold Fields target Yamana catches eyes of Agnico Eagle and Pan American
By Helen Reid and Mrinalika Roy
Friday, November 4, 2022
Agnico Eagle Mines Ltd.and Pan American Silver Corp swooped in Friday with a joint bid for Yamana Gold in an attempt to scupper Gold Fields' planned acquisition of the Canada-listed gold miner.
The cash and stock offer, valuing Yamana at around $4.8 billion, would see Agnico and Pan American split Yamana's mines between them. Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share, and 0.1598 of a Pan American Share for each share held.
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Reyna Gold Identifies Major Geophysical Anomalies
and More High-Grade Gold, Silver, and Copper
November 1, 2022
Reyna Gold Corp. (TSXV: REYG, OTCQB: REYGF) announces more results from the ongoing district-scale exploration at its 24,215 hectare La Gloria Property in Sonora, Mexico.
Results are returning high-grade gold, silver and copper samples from multiple mineralized zones that align with geophysical anomalies, silica alterations, and structural controls on the property.
Details appear at the link below.
"We are using a geoscientific exploration approach that is continually working on the property," Reyna Gold CEO Michael Wood said. "We have identified a number of very large geophysical anomalies that tie in with large silica alternations that our initial drilling and geochemical sampling work show are coinciding with high-grade gold, silver, and copper mineralization.
"These anomalies are mainly covered and as a consequence have never been explored, presenting us with very large unexplored targets that we know are hosting mineralization from multiple orogenic and intrusive related events across an 80-square-kilometer area. It is very exciting to see our exploration approach continuing to uncover more and more mineralization on the property.” ...
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South Africa's Gold Fields had agreed to take over Yamana in an all-stock deal valuing it at $6.7 billion in May.
But a slump in its shares after the deal was announced dented the valuation and at Thursday's close the all-stock offer valued Yamana at just north of $4 billion.
Yamana, whose shares were up 15% after news of the rival bid, said it had informed Gold Fields that the new offer was a "superior proposal." Gold Fields has five business days to make a new offer should it wish to. ...
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