Calibre Mining Corp. [CXB-TSXV, CXBMF-OTC] said Monday it has struck a definitive deal to acquire Fiore Gold Ltd. [F-TSXV, FIOGF-OTCQB] via a court-approved plan of arrangement. A weekly roundup of the latest news and analysis, sent every Friday. This white paper identifies the mega trends affecting mining businesses, while exploring the opportunities, risks, and implications for operational resilience, with expert insight from Dynamiq on the best practices and approaches to improve business outcomes. The deal is expected to create a diversified, mid-tier gold producer with an annual production of 245,000oz. By downloading this Whitepaper, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. It said the transaction will create a diversified, Americas-focused, growing mid-tier gold producer with targeted annual production of 245,000 ounces at an all-in-sustaining cost of US$1,020. Your email address will not be published. Please enter a work/business email address, By clicking the Download Free Whitepaper button, you accept the terms and conditions and acknowledge that your data will be used as described in the Dynamiq privacy policy. The Pan heap leach gold mine brings an immediate increase in our production and cash flow, in addition to significant exploration potential, said Calibre Chairman Blayne Johnson. Your email address will not be published. Enter your details here to receive your free Whitepaper. Prior to that deal, Calibre had a 100% interest in over 413 square kilometres of mineral concessions in the Mining Triangle of Northeast Nicaragua, including the Primavera Gold-Copper project and Santa Maria Gold Project. The acquisition is expected to create a diversified, Americas-focused, mid-tier gold producer with an annual production of nearly 245,000oz.

Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. Mining news and in-depth feature articles on the latest mining company deals and projects covering trends in mineral exploration with up to date data on the most mined metal and mineral commodities, Receive our newsletter - data, insights and analysis delivered to you. The combined company will have comprehensive technical capabilities to exploit a pipeline of development and exploration opportunities across a broader portfolio. The deal allows Calibre to buy 100% stakes in the Golden Eagle project in Washington State, as well as the operating Pan Gold Mine, the advanced-stage Gold Rock Project and the past-producing Illipah Gold Project in Nevada, from Fiore. Under the takeover deal, Fiore shareholders will receive 0.994 of a Calibre common share and $0.10 in cash for each of their Fiore shares. Required fields are marked *. The Pan heap leach gold mine brings an immediate increase to our production and cash flow, in addition to significant exploration potential., Calibre president and CEO Darren Hall said: The pro forma company will have an exciting fully funded growth pipeline with Calibres high-grade Eastern Borosi project and Fiores Gold Rock project located approximately 10km from the operating Pan Mine.. Download this document to learn more. Please try again. Upon deal completion, existing shareholders of Fiore and Calibre will respectively hold around 22% and 78% stakes in the combined company. There was an error while trying to send your request. News of the deal comes two years after Calibre acquired B2Gold Corp.s [BTO-TSX, BTG-NYSE] interest in the El Limon and La Libertad gold mines, the Pavon gold project and additional mineral concessions in Nicaragua for US$100 million. Fiore Gold, launched by financier Frank Giustra, is an Americas-focused gold producer with an initial plan to produce 150,000 ounces of the yellow metal annually, and later emerge as a mid-tier company. The addition of a top-tier, low-risk mining jurisdiction in Nevada creates a lower risk profile with greater asset and country diversification. Numerous mega trends are impacting the mining industry, making an effective resilience program more important than ever to ensure that operations continue as intended. The mining industry's most comprehensive news and information delivered every month. With comprehensive technical capabilities, the combined entity will be able to exploit development and exploration opportunities across a broader portfolio. From ESG considerations, through to the use of advanced technologies such as Internet of Things devices, AI, and digital twins, as well as workplace safety, volatility in commodity markets, and the spectre of Covid-19 still looming. Tick the boxes of the newsletters you would like to receive. When the odds of discovering a new mineral deposit are stacked against you at 10,000 to Graphites are soft, low-density, opaque, and gray-black minerals often characterized by their metallic luster, thermal shock SKRR Exploration unlocks the potential mineral wealth of Saskatchewan By Robert Simpson Saskatchewan and Gold mining Silver Bullet Mines Corp. is what many might consider a maverick in the mining industry, boldly Thesis Gold Inc. is focused on the Golden Horseshoe area of north-central British Columbia, where it Copper explorer ticks all the boxes key for successful large-scale-mine development After battling to get market By Robert Simpson Within a decade, the world may face a massive shortfall of whats arguably Golden Shield Resources Inc. is headed by a group of highly experienced executives who expect more You have successfully subscribed to the newsletter. According to the agreed terms, Fiore shareholders will receive 0.994 of a Calibre common share and a cash of $0.08 (C$0.10) for each share held. It also has the Goldrock property, a 20,300-hectare land package along the Battle Mountain and Eureka trends, that is anchored by the former Easy Junior Mine, which reportedly produced roughly 75,000 ounces of gold in the early 1990s. Gold Rock is estimated to host an indicated resource of 403,000 ounces of gold, plus an additional 84,300 ounces in the inferred category.

Existing shareholders of Calibre and Fiore will own approximately 78% and 22% respectively of the combined company. Calibre chairman Blayne Johnson said: This transaction is the type of value-add diversified growth we set out to accomplish when we partnered with B2Gold to acquire our initial gold production. Its key Nevada assets includes an open pit heap leach operation known as the Pan Mine. Copyright 2022 Resource World Magazine Inc. Resource World Magazine will use the information you provide on this form to be in touch with you and to provide updates and marketing. Digital Solutions Transforming Mining Operations Across the Globe, Custom Protection Solutions for Hydraulic Cylinders, Innovative Safety and Productivity Solutions for Mining Applications, Thank you for subscribing to Mining Technology. This growth strategy will be supported by a strong balance sheet with a combined cash balance of US$96 million and no bank debt as of September 30, 2021. Game-changing technologies will enable Canadas oil & gas producers to reduce emissions, Petrolympic drills 1.49 g/t gold over 5.4 metres at Belcourt, Quebec, Moneta Gold drills 1.5 g/t gold over 31 metres at Westaway, Ontario, Empress Royalty shines on Mozambique gold pour news, Integra drills 2.26 g/t AuEq over 102 metres at DeLamar, Idaho, Cabral Gold drills 4.6 g/t gold over 13 metres at Cuiu Cuiu, Brazil, Graphite One: Advancing a Complete U.S. Graphite Supply Chain Solution, Anchored by High-Grade Graphite from the Seward Peninsula, Alaska, Silver Bullet Mines Corp. -From explorer to miner to metaverse, Thesis Gold Sees multiple million ounce potential at Ranch, Doubleview Gold Corp. - Advancing a polymetallic gold, copper, battery metal project in British Columbia, Golden Shield Resources Advancing Gold Assets in Guyana. I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the, Non-Metallic Mineral Mining and Quarrying, Introducing the Excellence Awards & Rankings 2022, Innovations in mining technology & services. Each mega trend has a different impact that needs managing correctly, with a one-size-fits-all approach insufficient. Calibre Mining has agreed to acquire US-based gold producer Fiore Gold via a court-approved plan of arrangement. B2Gold, which holds around 37% of Calibre shares, along with Calibre officers and directors have agreed to vote their Calibre common sharesin favour of the deal. The deal has already secured the clearance of the two companies board of directors. The company is hoping that by operating the Pan and Gold Rock in unison, it will create a multi-asset, 100% U.S. domestic gold producer. This implies $1.45 (C$1.80) per common share of Fiore. That implies a valuation of $1.80 per Fiore share, marking a premium of 44% based on the closing price of Calibre and Fiore common shares on October 22 when Calibre shares closed at $1.71 to trade in a 52-week range of $2.80 and $1.26, and Fiore Gold closed at $1.25 to trade in a 52-week range of $1.66 and 95 cents. It currently awaits regulatory and shareholder approvals, with deal completion anticipated in January 2022. The top stories of the day delivered to you every weekday.

Additionally, the company has optioned to Iamgold Corp [IMG-TSX, IAG-NYSE] (176 square kilometres) and Centerra Gold Inc. [CG-TSX, CAGDF-OTC] (353 square kilometres) concessions covering an aggregate area of 429 square kilometres and is a party to a joint venture on the 33.6 square kilometre Rosita D. gold-copper-silver project with Rosita Mining Corp. Major shareholders in Calibre include B2Gold, with 30%, mining financier Pierre Lassonde, and management. Calibre Mining to acquire Giustras Fiore Gold, News of the deal comes two years after Calibre acquired, Additionally, the company has optioned to.