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Tudor to Acquire American Creek in Latest Gold M&A Deal
Jun. 26, 2025 09:40AM PST
2025’s flurry of mid-cap and junior deals in the gold space suggest a sustained trend in the sector.
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Tudor Gold (TSXV:TUD,OTC Pink:TDRRF) has signed a definitive agreement to acquire American Creek Resources (TSXV:AMK,OTCQB:ACKRF) in an all-share transaction, marking a consolidation in BC's Golden Triangle.
Under the deal, dated Wednesday (June 25), each American Creek shareholder will receive 0.238 shares of Tudor for each share held, effectively giving Tudor an 80 percent ownership stake in the Treaty Creek project — one of Canada’s largest undeveloped gold-copper porphyry systems. American Creek previously held a fully carried 20 percent interest.
"Our acquisition of American Creek increases our interest to 80 percent in the Treaty Creek Project, which hosts one of the largest gold discoveries in Canada with excellent potential for expansion and additional gold-copper discoveries, at a reasonable per ounce of gold equivalent cost," said Joe Ovsenek, Tudor Gold president and CEO, in a press release.
According to Tudor, Treaty Creek is located adjacent to world-class deposits held by Seabridge Gold (TSX:SEA,NYSE:SA) and Newmont (TSX:NGT,NYSE:NEM). Treaty Creek's flagship Goldstorm deposit is a large-scale system that holds both gold and copper mineralization, and the project has consistently returned high-grade intercepts.
The transaction also includes the settlement of up to US$2.22 million in severance obligations to American Creek insiders — US$1 million in cash and the remainder in Tudor shares at a price of US$0.537 per share.
These shares will be subject to a four month statutory hold period, pending approval from the TSX Venture Exchange.
Golden Triangle deal mirrors global M&A trend
The Tudor-American Creek deal is the latest in a wave of mining sector consolidations driven by a record gold price, rising corporate cash reserves and dwindling new deposit discoveries.
Notable deals in the first half of 2025 include the C$2.6 billion merger of Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) and Calibre Mining, which was announced in February and closed this month.
In Australia, Northern Star Resources (ASX:NST,OTC Pink:NESRF) closed its AU$5 billion acquisition of De Grey Mining in May. De Grey was the owner of the massive Hemi gold deposit. The same month, Gold Fields (NYSE:GFI,JSE:GFI) made a US$2.4 billion bid for Gold Road Resources (ASX:GOR,OTC Pink:ELKMF).
Ramelius Resources' (ASX:RMS,OTC Pink:RMLR) AU$2.4 billion acquisition of Spartan Resources (ASX:SPR,OTC Pink:GYYSF), announced in March, further underscores the appetite for consolidation.
Data from S&P Global Commodity Insights shows last year's M&A activity laid the groundwork for this trend.
With US$26.54 billion in deal value across 62 qualifying transactions, gold remained the dominant metal of focus, accounting for 43 deals and US$19.31 billion of total deal value. "Ever-depleting mining reserves and limited exploration success mean that acquisition is now the key strategy for growth," the report notes.
Gold's record price rise, which took it to the US$3,500 per ounce level in April, has made previously uneconomic deposits viable and pushed miners' margins to historic highs.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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