South African Anglocold Asanti Corvus wants to expand its foothold in North America by acquiring gold

South African Anglocold Asanti Corvus wants to expand its foothold in North America by acquiring gold

(Egofin Agency) – AngloCold’s project portfolio has shrunk since 2020, when its South African assets were delisted. To address this, the company wants to expand its footprint in an area where its presence was low a few months ago.

In the United States, South African Anglocold Ashanti Corves has submitted an unrestricted acquisition offer to the board of directors of Gold. The mining company already holds 19.5% interest through one of its subsidiaries, and the mining company announced on July 13 its intention to buy all remaining ordinary shares worth $ 370 million. $.

«We have a unique opportunity to combine Corvus assets with us [dans la juridiction minière la mieux classée au monde] In order to create a significant new manufacturing base for Anglocold Asanthi in the medium and long termChristine Ramon (photo), interim CEO of AngloCold, says Trans justify the transaction.

Corvus Gold’s portfolio in Nevada has two promising gold projects, for which the company has already conducted an initial economic assessment (PEA). The North Bullfrock project has a 14-year lifespan of approximately 1.5 million ounces and can deliver an average of 170,980 ounces of production to the mother load in eight years. However, these two projects are close to or close to the properties of the Anglocold Asanthi (Silicon, Transvaal and Riolite) in the region.

Although the Johannesburg-based mining company completed a restructuring a few months ago and sold its assets to Rainbow Nation, the deal could be seen as a way to boost production. If successful, AngloCold will long be in the circle of the world’s largest gold producers.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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