Eldorado to buy QMX Gold for $105 million
Friendly acquisition expands the miner's footprint and landholdings in Quebec by about 550%.
Friendly acquisition expands the miner's footprint and landholdings in Quebec by about 550%.
Company expects an attributable gold production between 630,000 and 700,000 ounces in 2021.
The company expects to return to mining in early February 2021, with first payable zinc production expected by the end of March.
On his watch, the company rode an unprecedented commodities boom, expanding to challenge Codelco as the world’s biggest copper miner.
The Canadian miner increased gold production to 528,874 ounces despite covid-19 measures.
Production reached 115,600 gold-equivalent ounces (GEOs) in 2020, compared with 174,400 GEOs in 2019.
The $150 million Sadiola sale was first announced in December 2019, but delayed over a coup.
Exploration work is ongoing with eight drills currently working, and on track to complete approximately 70,000 m by the end of 2020.
TMAC's shares fell as much as 16% on Tuesday.
Drilling highlights include 51.22 g/t Au and 1.9 g/t Ag over 1.91 meters on the Providencia Vein.