With large swathes of the globe shut down, the M&A pipeline remains patchy and likely to be dominated by rescue deals.

Last year, Hope Bay produced 139,510 oz. of gold.

The combined company is expected to have a market capitalization of approximately C$250 million.

The company expects to meet or exceed budgeted consolidated gold production for the first quarter of 2020.

With gold prices near a seven-year high and international investors clamoring for a safe haven, Russian dealers are probably eager to sell.

The project does not have an established resource, but 3 Aces does have 300 holes drilled, many returning high-grade gold intervals.

The miner is acquiring Hinterland’s Teck property.