Silvercorp walks away from Guyana Goldfields
Canadian precious metals miner Silvercorp has elected not to exercise its right to match an offer for gold miner Guyana Goldfields.
Guyana Goldfields, which owns the soon-to-be-idled Aurora underground gold project, in Guyana, has received quite a bid of interest from potential suitors. Last week, it revealed an offer from a foreign-based multinational that is 35% higher than Silvercorp’s offer.
Silvercorp’s latest offer that valued Guyana Goldfields at C$227-million was already an improvement from its first-announced C$105-million deal, which, at the time, was sufficient to get TSX-listed Gran Colombia Gold out of the race.
In February, Guyana Goldfields hired an adviser for a review of strategic and financing alternatives, having encountered several setbacks at the Aurora project. The miner will place its Aurora operations on care and maintenance at the end of the month.
Comments
Press Office
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