Latest Deals

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Orla Mining has finalised a definitive agreement to acquire the Musselwhite gold mine in Ontario from Newmont for $810m (C$1.14bn) in upfront cash and another $40m contingent on the gold price. The acquisition is set to significantly expand Orla’s gold production capabilities and enhance its free cash flow. It will be financed through a blend of cash reserves, undrawn debt facilities, new borrowing, a gold pre-pay arrangement and convertible notes. The move is expected to more than double Orla’s annual gold output to over 300,000oz.

Tungsten producer EQ Resources has entered a binding heads of agreement to acquire the entire share capital of Tungsten Metals Group (TMG) and its subsidiaries. The acquisition is valued at $13.5m and is expected to close in H1 2025. It will involve EQ Resources issuing an estimated 170 million shares and making a cash payment of $2.5m. TMG owns and operates the largest ferrotungsten plant outside of China, capable of producing up to 4,000 tonnes per annum.

Australian miner Greatland Gold has announced that its subsidiaries have entered into a binding agreement with US-based Newmont’s subsidiaries to acquire a 70% ownership interest in the Havieron gold-copper project. This deal also includes 100% ownership of the Telfer gold-copper mine and related assets in the Paterson region. Completion of the acquisition, targeted for early December 2024, is contingent upon meeting certain conditions.

South32 has signed a subscription agreement to invest $29.16m (A$44.58m) in Canadian copper explorer American Eagle Gold, which is focused on the Nakinilerak (NAK) project in British Columbia. The investment will see South32 acquiring a 19.9% stake in American Eagle Gold, with the funds earmarked for further drilling at the NAK project, building on the 2024 drill programme. The agreement will see American Eagle Gold issuing 33,321,577 common shares at C$0.875 each.