{"id":1093564,"date":"2019-01-10T14:30:49","date_gmt":"2019-01-10T14:30:49","guid":{"rendered":"http:\/\/www.mining.com\/?p=962810"},"modified":"2019-01-10T14:30:49","modified_gmt":"2019-01-10T14:30:49","slug":"ascot-enters-definitive-agreement-to-acquire-idm-mining","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1093564","title":{"rendered":"Ascot enters definitive agreement to acquire IDM Mining"},"content":{"rendered":"

Ascot Resources<\/a> announced this week that it has entered into a definitive arrangement to acquire all of the issued and outstanding common shares of IDM Mining<\/a>.<\/p>\n

In a press release<\/a>, the Vancouver-based miner said that the goal behind the proposed acquisition is to create a prominent BC gold exploration\/development company. <\/p>\n

“The pro forma company would own two advance-stage high-grade gold projects in the Gold Triangle in British Columbia, a district which has garnered significant attention due to the commencement of production at Pretium\u2019s Brucejack deposit and the discovery of high-grade porphyry-style copper-gold mineralization at GT Gold\u2019s Saddle North project last year,” Ascot management said in the media brief. <\/p>\n

According to the miner, the combination of IDM and Ascot would consolidate a global resource base of almost 3 million ounces with an average grade of 7.4 g\/t gold.<\/p>\n

This is because, among other properties, the new company would be in charge of IDM\u2019s Red Mountain project<\/a>, which comprises a 170-square-kilometre concession located 15 kilometres north of the township of Stewart, with 180,529 metres drilled largely from underground and an updated feasibility study expected in H1\/2019.<\/p>\n

Around the same area, Ascot purchased the Silver Coin property, which comprises some 8,039 hectares. <\/p>\n

“Upon closing, the companies will have further consolidated two, 15+ km long early-Jurassic geological trends totaling 25,000 hectares, which host multiple advanced deposits with significant potential new high-grade gold discoveries located 25 kms from each other,” the media statement reads.<\/p>\n

If the buyout moves forward, IDM shareholders would receive 0.0675 of a common share of Ascot for each IDM share held equating to approximately C$0.086 per share and a premium of ~54% to IDM shareholders based on the trailing 20-day volume weighted average price of each company. In parallel, IDM shareholders would hold approximately 16.7% of Ascot shares on an outstanding basis.<\/p>\n

The post Ascot enters definitive agreement to acquire IDM Mining<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Vancouver-based miner said that the goal behind the proposed acquisition is to create a prominent BC gold exploration\/development company. <\/p>\n

The post Ascot enters definitive agreement to acquire IDM Mining<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[976,977,404,369],"tags":[22,25,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093564"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1093564"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093564\/revisions"}],"predecessor-version":[{"id":1093646,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093564\/revisions\/1093646"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1093564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1093564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1093564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}