- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Cerro Resources and Primero Mining Merge to Progress Cerro del Gallo
Cerro Resources (ASX:CJO,TSXV:CJO) and Primero Mining Corp. (TSX:P, NYSE:PPP) announced they are merging in support of Cerro del Gallo gold/silver heap leach mine in Mexico.
Cerro Resources (ASX:CJO,TSXV:CJO) and Primero Mining Corp. (TSX:P, NYSE:PPP) announced they are merging in support of Cerro del Gallo gold/silver heap leach mine in Mexico.
As quoted in the press release:
Primero will acquire all issued and outstanding ordinary shares of Cerro by way of a scheme of arrangement (the “Share Arrangement”) under the Australian Corporations Act 2001 (“Act”), at the ratio of 0.023 of a Primero share for each 1 Cerro share.
Cerro Resources Managing Director, Tony McDonald, said:
By undertaking this transaction, Cerro shareholders benefit immediately from Primero’s balance sheet and cash flow, enabling the Cerro del Gallo project to be constructed without external financing. Importantly, this should ensure returns from an operationalised Cerro del Gallo are maximised, while appreciably lowering the combined average operating cost per ounce of the merged group – benefitting all shareholders.
To view the whole press release, click here.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.