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Yamana sells Mercedes to Premier Gold Mines
Yamana Gold has entered into a definitive agreement to sell its Mercedes underground gold-silver mine in Sonora, Mexico, to Premier Gold Mines, a Canadian junior company headquartered in Thunder Bay, Ontario. Pursuant to the agreement, Yamana will receive cash and equity securities valued at $140 million at the time of the negotiations, with cash accounting for $122.5 million of the total. The transaction was expected to close on or about September 30. Yamana will to use the proceeds from the transaction to reduce its net debt. The Mercedes mine has been in production since 2011 and is currently mining three underground gold-silver deposits.
Yamana sells Mercedes to Premier Gold Mines
Yamana Gold has entered into a definitive agreement to sell its Mercedes underground gold-silver mine in Sonora, Mexico, to Premier Gold Mines, a Canadian junior company headquartered in Thunder Bay, Ontario. Pursuant to the agreement, Yamana will receive cash and equity securities valued at $140 million at the time of the negotiations, with cash accounting for $122.5 million of the total. The transaction was expected to close on or about September 30. Yamana will to use the proceeds from the transaction to reduce its net debt. The Mercedes mine has been in production since 2011 and is currently mining three underground gold-silver deposits.
Yamana sells Mercedes to Premier Gold Mines
2016
Article (Journal)
English
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