Latest update January 17th, 2025 6:30 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

China’s leading gold mining company buys Guyana Goldfields Inc for C$323M

Jun 13, 2020 News

China’s leading gold mining company, Zijin Mining Group Co. Ltd has completed the proposed purchase Guyana Goldfields Inc. In a release to the media yesterday, it was announced that Zijin entered into a binding arrangement agreement which will allow it to acquire all of the outstanding common shares of Guyana Goldfields for cash consideration of C$1.85 for each Guyana Common Share, valuing Guyana Goldfields at approximately C$323 million.
On June 3, 2020, Guyana Goldfields had received a binding proposal from Zijin to acquire all of the issued and outstanding Guyana Common Shares and notified Silvercorp, a Canadian mining company that submitted the first proposal to purchase Guyana Goldfields, that a superior offer was received.
Silvercorp elected not to exercise its right to match and, as a result, Guyana Goldfields terminated the Silvercorp Arrangement Agreement. Zijin has since agreed to provide Guyana Goldfields with a US$30 million secured loan facility to finance ongoing operations of the Aurora gold mine and to fund its other liquidity needs.

Similar Articles

The Glenn Lall Show | January, 13th, 2025

 

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Windies captain Brathwaite stresses bravery, belief ahead of Pakistan Test Series

Windies captain Brathwaite stresses bravery, belief ahead of Pakistan...

Jan 17, 2025

SportsMax – With the stakes high and the odds challenging, West Indies captain Kraigg Brathwaite has placed an unyielding focus on self-belief and bravery as key factors for his team to deliver...
Read More
In-form Savory dazzles on second day with classy half-century

In-form Savory dazzles on second day with classy...

Jan 17, 2025

Moo Milk sponsors National U12 Chess tourneys

Moo Milk sponsors National U12 Chess tourneys

Jan 17, 2025

Determinators’ 2-1 win over Pele FC keep them alive as DeJonge needles Potaro

Determinators’ 2-1 win over Pele FC keep them...

Jan 17, 2025

Lusignan Golf Club to host Inaugural GBTI Mastercard Golf Classic this Sunday

Lusignan Golf Club to host Inaugural GBTI...

Jan 17, 2025

GFF Referee department recognizes top performances at Referee Award Ceremony, FIFA badges issued

GFF Referee department recognizes top...

Jan 17, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]