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March 11, 2021

Newmont signs deal to buy out Canada’s GT Gold for $311m

US-based gold mining company Newmont has signed a binding agreement to acquire the remaining 85.1% stake in Canadian firm GT Gold for $311m (C$393m).

US-based gold mining company Newmont has signed a binding agreement to acquire the remaining 85.1% stake in Canadian firm GT Gold for $311m (C$393m).

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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Newmont will pay $2.57 (C$3.25) in cash for each GT Gold share.

GT Gold is involved in advancing its 100%-owned 47,500ha Tatogga property in the Tahltan Territory in British Columbia, Canada.

Newmont expects the acquisition of the Tatogga project to strengthen its existing interest in the prospective Golden Triangle near Iskut.

Tahltan Central Government (TCG) President Chad Norman Day stated: “The Tahltan Central Government recognises Newmont’s purchase of GT Gold and the Tatogga project.

“Newmont is a major international mining company who already has an established relationship with the Tahltan Nation as Newmont owns 50 percent of the Galore Creek Mining Corporation, whose project is in Tahltan Territory.

“TCG understands the sensitivities of all mining projects and has communicated with Newmont that Tahltan consent is a requirement for the advancement of any project in Tahltan Territory. The TCG looks forward to working with Newmont in a respectful, meaningful and mutually beneficial way.”

GT Gold earlier made two major discoveries on the Tatogga property that include Saddle South, a precious metal rich vein system and Saddle North, a gold-rich copper porphyry system.

Newmont noted that the Tatogga project, including the primary Saddle North deposit, hosts potential to contribute significant gold and copper annual production at attractive all-in sustaining costs over its operational life.

Newmont president and CEO Tom Palmer said: “We are committed to continue building a constructive and respectful relationship with the Tahltan Nation, including with the community of Iskut, which is near the project, in anticipation of exploring this highly prospective area.”

The deal, pending normal closing conditions, is slated to complete in the second quarter of this year.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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