Highgold Mining Inc (TSE:HIGH) has released an update.
Contango ORE, Inc. has announced a strategic acquisition of HighGold Mining Inc., significantly expanding their North American gold production capabilities. The deal, valued at approximately US$37 million, will see HighGold shareholders receive a 59% premium on their shares, with Contango shareholders owning the majority of the merged entity at 85%. This acquisition brings together high-grade gold deposits and sets the stage for increased annual production, leveraging a direct ship ore model for efficient operations.
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