Global | Mining | TSX:DSV
A GROWING NORTH AMERICAN PRECIOUS METALS COMPANY
Discovery Silver (DSV:TSX) have announced they are buying the Porcupine gold camp in Timmins, Canada from Newmont Mining (NEM:NYSE) with 2024 production of 280,000 ounces of gold.
At a $2650/ounce gold price Discovery is paying US$425 million or 0.2X the US$2.3 billion Net Present Value for the heart of the 70 million ounce Timmins gold camp - Canada's largest. Franco Nevada are contributing US$300 million of royalty and $100 million of debt finance and Discovery Silver are raising US$173 million of new equity to buy Porcupine. US$200 million of the purchase price is up front cash, $150 million is deferred cash and $75 million is equity in Discovery.
Discovery Silver will have over US$200 million of spare cash to give the Porcupine assets the investment deserved of a Tier One gold camp.
Click Here to read full article
Comentarios