OceanaGold Corp gains a foothold in Nevada
TORONTO (miningweekly.com) – Triple-listed miner OceanaGold has agreed to acquire a 14.9% stake in explorer Gold Standard Ventures, that would give OceanaGold exposure to the Railroad-Pinion project, in north-central Nevada.
OceanaGold would subscribe for nearly 25-million Gold Standard shares on a private placement basis, at a price of C$0.65 apiece.
Under the terms of the deal, provided that OceanaGold held no less than 9.9% of the then issued and outstanding common shares of Gold Standard, OceanaGold would have the right to request that Gold Standard form a technical committee and the ability to nominate at least one representative of the four-person team.
The agreement also contained antidilution rights. OceanaGold would be able to participate in any future equity financing undertaken by Gold Standard to acquire up to 19.9% of the then issued and outstanding common shares after the statutory hold period had expired four months and one day after the investment closed.
OceanaGold also acquired the right of first refusal to match any third-party offers regarding a tolling arrangement or a nonequity financing for the purpose of funding the future exploration and development of any of Gold Standard’s assets.
"Our investment highlights the quality and potential of the Railroad-Pinion project. We also view this as an opportunity to gain exposure to another jurisdiction and one of the most prolific gold belts in the world,” OceanaGold MD and CEO Mick Wilkes said.
The transaction was expected to close next week.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
