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Gold Road confirms interest in Canada’s Greenstone Gold Mines

15th April 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Australian mining company Gold Road Resources has responded to media speculation circulating in The Australian regarding its potential acquisition of an interest in Greenstone Gold Mines, located in Canada.

The company on Monday confirmed its active participation in a sale process initiated by Orion Resource Partners for Greenstone Gold Mines.

Gold Road emphasised that it had not yet entered into any definitive acquisition agreements in relation to the aforementioned mines.

In a statement released by MD and CEO Duncan Gibbs, Gold Road underscored its commitment to evaluating strategic opportunities diligently.

The mining company, which owns a 50% interest in the Gruyere gold mine in Western Australia, affirmed that any potential acquisitions would only proceed if deemed advantageous to its shareholders.

A report in The Australian speculated Orion was seeking a $1-billion-plus valuation for Greenstone and would need to raise capital to fund the deal.

Greenstone is a 60:40 partnership between Equinox Gold and Orion. The mine, which is set to start production next month, is anticipated to yield about 400 000 oz/y.

Edited by Creamer Media Reporter

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