{"id":1183320,"date":"2020-05-08T09:01:28","date_gmt":"2020-05-08T14:01:28","guid":{"rendered":"https:\/\/www.mining.com\/?p=1023232"},"modified":"2020-05-08T09:01:28","modified_gmt":"2020-05-08T14:01:28","slug":"shandong-gold-grabs-tmac-resources-for-149-million","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1183320","title":{"rendered":"Shandong Gold grabs TMAC Resources for $149 million"},"content":{"rendered":"<p>China\u2019s Shandong Gold Mining, one of the country\u2019s top bullion miners, has <a href=\"https:\/\/s1.q4cdn.com\/893791552\/files\/doc_news\/2020\/05\/2020-05-08-TMAC-to-be-Acquired-by-SD-GOLD.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">agreed to buy Canadian junior TMAC Resources<\/a> (TSX: TMR) for around $149 million.<\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>The deal will see the Chinese state-controlled<br \/>\ncompany pay C$1.75 a share in cash, or 4.2% above TMAC\u2019s Thursday close on the<br \/>\nToronto Stock Exchange.<\/p>\n<p>The move would mark the third time in<br \/>\nthe past few months that an underperforming Canadian gold producer is swept up<br \/>\nby larger and financially stronger senior. <\/p>\n<p>Endeavour Mining (TSX:EDV) was the first to grab headlines, announcing in March the <a href=\"https:\/\/www.mining.com\/endeavour-buys-rival-semafo-creates-one-of-west-africas-top-gold-miners\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">acquisition of smaller rival Semafo\u00a0(TSX: SMF)<\/a> in a C$1 billion ($691 million) deal.<\/p>\n<p>Silvercorp Metals (TSX, NYSE: SVM) <a href=\"https:\/\/www.mining.com\/silvercorp-to-buy-guyana-goldfields-in-c105m-deal\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">followed suit last month<\/a> by buying Guyana Goldfields (TSX: GUY) for C$105 million\u00a0($75m) in cash and stocks.\u00a0<\/p>\n<p><em>More to come\u2026<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TMAC is the third underperforming Canadian gold junior to be acquired in the past few months.<\/p>\n","protected":false},"author":8,"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 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