Bullion major Newmont Gold has completed the previously announced acquisition of junior GT Gold and is now the owner of the Tatogga project, in Canada.
“Newmont is excited to have the Tatogga project in the highly-sought after Golden Triangle district of British Columbia become part of our world-class portfolio and part of our future,” said president and CEO Tom Palmer in a statement.
GT Gold has made two significant discoveries on the Tatogga property, Saddle South, a precious metal rich vein system and Saddle North, a gold-rich copper porphyry system.
Shareholders approved the arrangement at a special meeting on May 6, and four days later, the Supreme Court of British Columbia gave its nod.
Under the terms of the transaction, GT Gold shareholders would receive C$3.25 a common share in cash.