China’s Zijin Mining has been revealed as the international company that presented Canada’s Guyana Goldfields with a superior proposal, outbidding Silvercorp Metals with its C$323-million offer for the gold miner.
Zijin and Guyana Goldfields on Friday announced a binding arrangement agreement, pursuant to which the Chinese group will acquire the Guyana-focused mining company for C$1.85 a share in cash.
On Wednesday, Guyana Goldfields terminated its arrangement agreement with Silvercorp.