M&A ACTIVITY
Canadian multinational miner Eldorado Gold has agreed to buy fellow Canadian project developer Integra Gold in a cash-and-scrip deal worth about C$590-million, the companies announced late on Sunday.
Vancouver-headquartered Eldorado, which has operations and development projects in Turkey, Greece, Romaia and Brazil, will gain control of Integra’s Lamaque project near Val-d'Or, Quebec, which boasts a compliant indicated resource of 5.1-million tonnes grading 9.13 g/t gold and an inferred resource of 3.5-million tonnes grading 7.94 g/t gold, both at a 5 g/t gold cutoff.
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