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Stock Market & Financial Investment News

News Breaks
August 16, 2012
05:15 EDTXG, AUYExtorre Gold shareholders approve plan of arrangement Yamana Gold
Extorre Gold Mines (XG) announced shareholders overwhelmingly approved the previously announced plan of arrangement with Yamana Gold (AUY). The resolution approving the Arrangement was approved by 99.52% of the votes cast by Shareholders present in person or represented by proxy at the special meeting. Under the terms of the Arrangement, on the effective date of the Arrangement each Shareholder will receive in exchange for each Extorre common share held, $3.50 in cash and 0.0467 of a common share of Yamana. Each holder of an Extorre stock option shall be entitled to receive, upon the exercise of such Options, Yamana Shares based upon a share exchange ratio of 0.2648 of a Yamana Share for each Extorre Share which would have been issuable upon exercise of such Options prior to the effective date of the Arrangement. The Arrangement remains subject to, among other things, the final approval of the Supreme Court of British Columbia. The hearing for the final court order to approve the Arrangement is scheduled to take place on Aug. 21, with the effective date of the Arrangement expected to occur on or about Aug. 22.
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September 16, 2014
07:41 EDTAUYDenver Gold Group to hold a forum
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September 10, 2014
08:33 EDTAUYYamana Gold provides operational update
Yamana Gold provided an update on its C1 Santa Luz and Pilar projects and announced that monthly production reached record levels in August, favourably positioning the company to meet its production expectations for the balance of this year and into the following years. C1 Santa Luz along with Pilar, both located in Brazil, have been on a gradual process of ramp-up and evaluation over the past year in order to determine their continuing viability in light of certain operational challenges and decline in metal prices last year. During this time, the company has been working to improve the rate of recovery from the carbon-in-leach, or CIL, circuit at C1 Santa Luz, which to date has been lower than designed, and, in particular, the Company has been dealing with a significant carbon content in the ore which has had the effect of suppressing gold recovery. After careful and extensive review, and having allowed a sufficient period of time for optimization efforts, the company has concluded that the optimal plan for C1 Santa Luz would be to temporarily suspend ramp-up activities, and put the project on care and maintenance while several identified alternative metallurgical processes are evaluated. The decision to temporarily suspend ramp-up activities at C1 Santa Luz and put it on care and maintenance is consistent with the company's focus on maximizing cash flow rather than production only and protects the significant inventory of mineral resources that that would otherwise likely be lost permanently to tailings with the current recovery levels. In so doing, the potential future viability of the project is preserved as that inventory is profitably mined and recovered utilizing one of the metallurgical processes that will be implemented once the evaluation process is completed. The company is working with employees, labour unions, contractors and various levels of governments to minimize the impact on local communities and remains confident that once the metallurgical recovery evaluation process is completed, C1 Santa Luz will become a sustainable operation providing long term benefits to local communities. The company has undertaken to complete the evaluation of the alternative metallurgical recovery processes before end of 2015.

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