AngloGold offers to buy Corvus Gold for C$4.00/share

Jul. 13, 2021 10:45 AM ETAngloGold Ashanti Limited (AU)AUBy: Carl Surran, SA News Editor2 Comments

nugget gold
bodnarchuk/iStock via Getty Images

  • AngloGold Ashanti (NYSE:AU +3.1%) says it has submitted an offer to acquire the 80.5% of Corvus Gold (KOR) shares it does not already own for C$4.00/share; trading in Corvus is halted.
  • AngloGold estimates its proposed cash offer totals ~US$370M.
  • Corvus owns North Bullfrog, Mother Lode and other exploration assets located in southern Nevada's Beatty District, which AngloGold says are in close proximity or contiguous with its own Silicon, Transvaal and Rhyolite exploration assets.
  • AngloGold says the combination would further consolidate one of the largest new gold districts in Nevada and provides the company with the opportunity to establish "a meaningful, low-cost, long-life production base in a premier mining jurisdiction."

Recommended For You

Comments (2)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.