Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The combination of White Tiger Gold (CVE:WTG) and Century Mining received approval on Wednesday from the Government of Canada under the Investment Canada Act.
Century Mining will become an indirect subsidiary of White Tiger.
“We appreciate the approval given by the Government of Canada. We are now one step closer to creating a larger, more diversified gold mining company with multiple properties in various stages of production and development in Canada, Russia, and Peru” said Daniel Major, President and Chief Executive Officer of Century and Dr. Geoffrey Cowley, Chief Executive Officer of White Tiger in a joint statement.
Completion of the Business Combination remains subject to final approval of the Toronto Stock Exchange and the TSX Venture Exchange.
Closing of the Business Combination is expected to take place by the end of October.
White Tiger Gold Ltd. is focused on mining and exploration in Russia. White Tiger Gold Ltd. currently operates the Savkino heap leach gold operation located in southeastern Siberia. Plans are underway to expand gold production at Savkino and to develop a second gold-copper mine at its Nasedkino property situated in Chita Region in southeast Siberia.
Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru.
Comments
40percentLeft
RIP OFF!
http://www.stockigloo.com/ –> Anti-Merger Links
Broke every rule in the book