Austral Gold Ltd. (ASX: AGD) has agreed to acquire all outstanding shares of Argentex Mining Corp. (TSXV: ATX, OTC PINK: AGXMF) in an all-stock deal, Argentex reports. The offer has an implied valuation of approximately C$0.085 for each Argentex share, representing a 135% premium over the price at the close on the TSX Venture Exchange Tuesday, Argentex says. Completion of the transaction hinges on certain conditions, such as regulatory, stock-exchange, court and shareholder approvals, as well as Austral meeting TSXV listing conditions so that Austral shares can begin trading on the exchange. Austral and its affiliates already own a portion of Argentex. “The proposed acquisition of Argentex represents another step in our objective of becoming a broad-based precious-metals company and a leading regional player in South America,” says Eduardo Elsztain, chairman of Austral Gold. “We have had a strategy of patiently and prudently deploying our capital to invest in projects and equity stakes in precious-metals companies that we believe have considerable upside value. Argentex represents one such opportunity and we are confident that its shareholders will recognize the benefits of being part of Austral Gold.” Austral Gold is mining and exploration company building a portfolio of assets in South America. Argentex is an exploration company focused on advancing its Pingüino silver-gold project in Argentina.
By Allen Sykora of Kitco News; asykora@kitco.com
Comstock Mining Receives Permit Approvals for Future Heap Leach Expansions
Wednesday February 03, 2016 09:23
Comstock Mining (NYSE MKT: LODE) reports that it has received permit approvals for future heap leach expansions. The company says the Nevada Division of Environmental Protection Bureau of Mining Regulation and Reclamation has issued a “notice of decision” approving a major modification to the company’s water pollution control plan for various expansions of the heap leach facility. “This proactive permitting authorizes significant future heap leach capacity on our existing private lands. These approvals provide us all of the leaching capacity needed for the foreseeable future,” says Corrado De Gasperis, president and chief executive officer.
By Allen Sykora of Kitco News; asykora@kitco.com
Kirkland Lake Gold Pours One Millionth Ounce From Macassa Mine Complex
Wednesday February 03, 2016 09:23
Kirkland Lake Gold Inc. (TSX: KGI) announces that the company this week poured its one millionth ounce from the Macassa mine complex since operations began in 2003. “It is very fulfilling to see the progress that Kirkland Lake has made over the past 13 years,” says Harry Dobson, founder and former chairman of Kirkland Lake Gold. “As an entrepreneur, you start with a dream and a vision, and work as hard as you can to make them a reality.”
By Allen Sykora of Kitco News; asykora@kitco.com
