Gran Colombia finalises Gold X takeover
Canada-based gold producer Gran Colombia Gold has completed the acquisition of Gold X Mining, by way of a statutory plan of arrangement, effective June 4.
Resultantly, Gold X became a direct and wholly-owned subsidiary of Gran Colombia, affording the group control of the Toroparu gold project, in Guyana.
Pursuant to the plan of arrangement, each holder of Gold X shares is entitled to receive 0.6948 of a common share in the capital of Gran Colombia for each Gold X share held immediately prior to the effective time.
The corporation plans on delisting Gold X shares from the TSX-V as soon as practicable.
Gran Colombia chairperson Serafino Iacono says with the closing of the Gold X acquisition the company has created a new midtier Latin-American gold producer with a complementary asset portfolio.
On a combined basis, the company’s Segovia Operations, located in Colombia, and Toroparu, Gran Colombia now has a measured and indicated gold resource of 8.7-million ounces and another 4.3-million ounces of gold in the inferred category.
Gran Colombia will be updating the mineral resource estimate for Toroparu to incorporate a new geologic model and project optimisation work that was recently done by Gold X.
The company explains that with Gold X having $6-million cash on hand by closing of the acquisition, an updated preliminary economic assessment as a next stage of development can be fully funded.
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
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
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
