A business combination would create a mid-tier gold miner with a market value of almost $4 billion and an annual production of more than 1.2 million ounces.
Tension has been a feature of the copper market since the middle of last year but, so far, the net result has generally been stalemate and prices have moved sideways.
Shares in Quebec-based Maya Gold & Silver up 10% after pouring first silver at Moroccan mine, one of only a handful of primary silver mines on the continent.