TSX-listed Silvercorp is diversifying with the acquisition of fellow-listed Guyana Goldfields, which operates the Aurora gold mine in Guyana.
Silvercorp, which currently produces silver, lead and zinc from mines in China, will buy Guyana Goldcorp at a premium that values the company at C$105-million.
"This transaction provides our shareholders with an immediate and significant upfront premium and exposure to a geographically diverse mid-tier precious metal company,” said Guyana Goldfields president and CEO Alan Pangbourne.