Canada markets closed
  • S&P/TSX

    20,101.38
    -389.63 (-1.90%)
     
  • S&P 500

    3,923.68
    -165.17 (-4.04%)
     
  • DOW

    31,490.07
    -1,164.52 (-3.57%)
     
  • CAD/USD

    0.7765
    +0.0005 (+0.07%)
     
  • CRUDE OIL

    108.89
    -0.70 (-0.64%)
     
  • BTC-CAD

    37,411.59
    -2,056.76 (-5.21%)
     
  • CMC Crypto 200

    650.57
    -20.11 (-3.00%)
     
  • GOLD FUTURES

    1,814.90
    -1.00 (-0.06%)
     
  • RUSSELL 2000

    1,774.85
    -65.45 (-3.56%)
     
  • 10-Yr Bond

    2.8860
    -0.0820 (-2.76%)
     
  • NASDAQ futures

    11,890.00
    -45.50 (-0.38%)
     
  • VOLATILITY

    30.96
    +4.86 (+18.62%)
     
  • FTSE

    7,438.09
    -80.26 (-1.07%)
     
  • NIKKEI 225

    26,911.20
    +251.45 (+0.94%)
     
  • CAD/EUR

    0.7412
    -0.0001 (-0.01%)
     

AngloGold Ashanti agrees to buy out Canada's Corvus Gold

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

JOHANNESBURG, Sept 13 (Reuters) - AngloGold Ashanti agreed on Monday to buy out Canadian-listed Corvus Gold for 4.10 Canadian dollars per share in a deal valuing the exploration firm at 570 million Canadian dollars ($450 million).

The South African gold miner said the purchase of the 80.5% of Corvus shares it didn't yet own consolidates the two companies' projects in the Beatty District in southern Nevada and gives it the opportunity to establish a low-cost production base in the United States.

"This transaction delivers a compelling, district-wide consolidation in Nevada, which allows for the Beatty District to become a potential Tier 1 asset for AngloGold Ashanti," Alberto Calderon, AngloGold Ashanti CEO, said in a statement. ($1 = 1.2661 Canadian dollars) (Reporting by Helen Reid; Editing by Emelia Sithole-Matarise)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting