https://newsletter.en.creamermedia.com
Copper|Gold|Mining|Projects|Resources
Copper|Gold|Mining|Projects|Resources
copper|gold|mining|projects|resources

Eros Resources to merge with Canadian mining rivals

2nd October 2024

By: Reuters

  

Font size: - +

Canadian small-scale gold miner Eros Resources would merge with rivals MAS Gold and Rockridge Resources to develop copper and gold projects in the province of Saskatchewan, the companies said on Tuesday.

The Canadian province, home to copper, potash and uranium mines, is known for its mining prowess and contains several unexplored metal deposits.

Spot gold prices have risen about 29% so far this year on expectations of interest rate cuts and demand for safe haven amid rising geopolitical tensions, while copper has gained on long-term demand for the metal.

Under the deal terms, Eros would acquire MAS Gold and Rockridge shares that it does not own already by issuing 0.375 Eros common shares to Rockridge shareholders and 0.25 Eros shares to MAS Gold shareholders.

After the transaction closes, Eros shareholders would own about 42.37% of the combined company, while MAS Gold and Rockridge shareholders would own 37.33% and 20.3%, respectively.

"The portfolio of the combined company is expected to provide shareholders with exposure to approximately 77 890 ha of mineral claims, offering the potential for new discoveries and potentially attracting larger strategic partners," the companies said in a statement.

Eros had a market capitalization of C$4.4-million ($3.26-million) as of September 30, according to LSEG data.

Edited by Reuters

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.468 1.567s - 190pq - 2rq
Subscribe Now