Growing Nevada footprint
Borealis Mining is to acquire Gold Bull Resources in an all-share deal valued at about C$9 million to add the Sandman gold project in Nevada, US, to its existing Borealis production asset in the state.Borealis will give 0.93 of a Borealis share for each Gold Bull share, an acquisition price of about 60c per Gold Bull share, an 86.3% premium.The company said it views Sandman as a synergistic acquisition as the Borealis ADR facility can be used to process loaded carbon from Sandman .
The Sandman project benefits from a great location close to Winnemucca, NV, strong historical and recent metallurgical results, a massive historical dataset, and robust proximal infrastructure," Borealis Mining chief executive Kelly Malcolm said.Borealis aims to validate the historical metallurgical results at Sandman, which indicate non-refractory and readily recoverable gold mineralisation, initiate a feasibility study, and concurrent permitting.
Gold Bull Resources Sandman Borealis Cherie Leeden Kelly Malcolm
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