{"id":1186316,"date":"2020-05-25T13:36:48","date_gmt":"2020-05-25T18:36:48","guid":{"rendered":"https:\/\/www.mining.com\/?p=1024914"},"modified":"2020-05-25T13:36:48","modified_gmt":"2020-05-25T18:36:48","slug":"gran-colombia-axes-merger-deal-with-gold-x","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1186316","title":{"rendered":"Gran Colombia axes merger deal with Gold X"},"content":{"rendered":"<p>Gran Colombia Gold (TSX: GCM) <a rel=\"noreferrer noopener\" aria-label=\"announced (opens in a new tab)\" href=\"http:\/\/www.grancolombiagold.com\/news-and-investors\/press-releases\/press-release-details\/2020\/Gran-Colombia-Announces-Termination-of-Arrangement-Agreement-With-Gold-X-Mining-Corp\/default.aspx\" >announced<\/a> on Monday that it will no pursue the acquisition of all shares of Guyana Goldfields and, as a result, terminated the planned merger with Gold X.<\/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 successful completion of the Guyana Goldfields acquisition was a condition for the merger with Gold X. <\/p>\n<p>Guyana Goldfields rejected Gran Colombia\u2019s acquisition proposal and instead entered into an <a rel=\"noreferrer noopener\" aria-label=\"amended agreement (opens in a new tab)\" href=\"https:\/\/www.mining.com\/silvercorp-amends-guyana-merger-terms-with-improved-offer\/\" >amended agreement<\/a> with Silvercorp Metals after that company upped its offer to C$1.30 a share. <\/p>\n<p>Gran Colombia and Gold X had previously identified potential to connect  Gold X\u2019s wholly-owned Toroparu pre-development project and Guyana Goldfields\u2019 Aurora open-pit gold mine.   <\/p>\n<p>The Gran Colombia \u2013 Gold X combination would have produced approximately 275,000 oz. gold per year, which would be expected to grow to over 500,000 oz. a year through the development of the Toroparu, Aurora underground and Marmato (Gran Colombia) assets.<\/p>\n<p>Midday Monday, Gran Colombia\u2019s stock was up 6.29% on the TSE. The company has a C$465 million market capitalization. Gold X was down 3.3% on the TSXV, with a C$99.3 million market capitalization.   <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guyana Goldfields rejected Gran Colombia&rsquo;s proposal and entered into an amended agreement with Silvercorp.<\/p>\n","protected":false},"author":110,"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":"default","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":"","ast-disable-related-posts":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"class_list":["post-1186316","post","type-post","status-publish","format-standard","hentry","category-miningcom","category-news"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186316","targetHints":{"allow":["GET"]}}],"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\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1186316"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186316\/revisions"}],"predecessor-version":[{"id":1186363,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186316\/revisions\/1186363"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1186316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1186316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1186316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}