Vancouver-headquartered Core Gold on Tuesday detailed the outcomes of a strategic process, which culminated in a “senior gold producer” with a market capitalisation of $4-billion making a nonbinding offer of C$0.33 a share.
The unnamed gold miner made an initial proposal in September, which included, among other terms, a C$0.225 a share cash component, the creation of a new company, SpinCo to contain all Core Gold’s Ecuador projects, other than Dynasty Goldfield, to be spun-out to Core shareholders.