Listen Live
Listen Live
HomeNewsSt. Andrews Goldfields being bought out

St. Andrews Goldfields being bought out

- Advertisement -

Two Northern Ontario mining companies are merging.  Kirkland Lake Gold is buying St. Andrews Goldfields to create an intermediate gold producer.

Kirkland will pay about $178-million Canadian for St. Andrews.  The merger will create a company capable of producing up to 310,000 ounces of gold a year for Kirkland Lake Gold.

The proposal needs two thirds shareholder approval and both companies are recommending shareholders accept the deal when the merger is put to a vote at a special meeting in January.

St. Andrews has mines near Kirkland Lake.

- Advertisement -
- Advertisment -
- Advertisment -
- Advertisment -

Continue Reading