{"id":1189994,"date":"2020-06-12T10:56:20","date_gmt":"2020-06-12T15:56:20","guid":{"rendered":"https:\/\/www.mining.com\/?p=1026960"},"modified":"2020-06-12T10:56:20","modified_gmt":"2020-06-12T15:56:20","slug":"evrim-and-renaissance-join-in-merger-of-equals","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1189994","title":{"rendered":"Evrim and Renaissance join in \u2018merger of equals\u2019"},"content":{"rendered":"

Evrim Resources\u00a0(TSXV: EVM) is combining forces with\u00a0Renaissance Gold\u00a0(TSXV: REN; US-OTC: RNSGF) in a \u2018merger of equals\u2019 and forming a new company called Orogen Royalties that will focus on project generation and royalty creation.<\/p>\n

The boards of both companies have approved the transaction, which will see each Renaissance share exchanged for 1.2448 Evrim shares. <\/p>\n

Once completed, Renaissance and Evrim shareholders will each hold 50% of the new company\u2019s issued and outstanding common shares.<\/p>\n

\u201cBringing together two very successful and well-funded prospect generators with meaningful royalties creates a very strong platform from which to advance and grow our business,\u201d Robert Felder, Renaissance Gold\u2019s president and CEO, said in prepared remarks.<\/p>\n

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The new company will have a royalty portfolio that includes a 2% net smelter return royalty on\u00a0First Majestic Silver\u2019s Ermitano West gold deposit in Sonora, Mexico<\/p>\n<\/blockquote>\n<\/figure>\n

The new company will have a royalty portfolio that includes a 2% net smelter return royalty (NSR) on\u00a0First Majestic Silver\u2019s (TSX: FR; NYSE: AG) Ermitano West gold deposit in Sonora, Mexico. <\/p>\n

The project, about 4 km southeast of First Majestic\u2019s Santa Elena silver-gold mine, is scheduled to start production in 2021. It will also have a 1.5% NSR with First Majestic on its Cumobabi copper porphyry project, adjacent to Ermitano.<\/p>\n

In addition, Orogen will have a 1% NSR on\u00a0AngloGold Ashanti\u2019s (NYSE: AU) Silicon gold project in Nevada. Silicon is a low-sulphidation epithermal gold deposit, 12 km northeast of Beatty in Nye County, that Renaissance Gold has under option to AngloGold.<\/p>\n

At press time in Toronto, Evrim was trading at 35\u00a2 per share within a 52-week trading range of 19\u00a2 and 40\u00a2, and Renaissance Gold was trading at 26\u00a2 within a 52-week trading range of 10\u00a2 and 33\u00a2 per share.<\/p>\n

(This article first appeared in <\/em>The Northern Miner<\/em><\/a> on June 11)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new company will have a royalty portfolio that includes a 2% net smelter return royalty on First Majestic’s Ermitano West gold deposit in Sonora.<\/p>\n","protected":false},"author":7,"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":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1189994"}],"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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1189994"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1189994\/revisions"}],"predecessor-version":[{"id":1189996,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1189994\/revisions\/1189996"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1189994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1189994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1189994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}