OceanaGold Corp (ASX:OGC, TSX:OGC) will acquire all the common shares of Pacific Rim Mining Corp, (TSX:PMU) the two companies announced today.
Benefits to OceanaGold shareholders include addition of Pacific Rim’s El Dolorado gold-silver resource in El Salvador. Pacific Rim shareholders will be allowed exposure to the development of El Dorado through a gold producer with stronger financial stability.
As quoted in the press release:
Mick Wilkes, Managing Director and CEO of OceanaGold commented, “We believe this transaction will provide OceanaGold shareholders with potential exposure to a high grade gold-silver resource located in a very prospective region. This project has the potential to be an economic engine for El Salvador much like how our recently commissioned world-class Didipio Mine has been for northern Luzon in the Philippines.