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TMAC Receives Final Court Approval For Acquisition By Agnico Eagle Mines Limited
TMAC Resources Inc To Be Acquired By Agnico Eagle
Shandong Gold Mining Updates Unit's Plan On Acquisition Of TMAC Resources
TMAC Resources, Inc. is a Canada-based gold producer. The Company is involved in the exploration, evaluation and development of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada (Hope Bay Project). Approximately 1,100 square kilometer Hope Bay Project gold deposit has approximately 4.5 million ounces of gold at an average grade of approximately 9.2 grams per ton gold (g/t Au), Inferred Mineral Resources totaling approximately 1.4 million ounces of gold at an average grade of 7.4 g/t Au and proven and probable mineral reserves totaling approximately 3.5 million ounces of gold at an average grade of 7.7 g/t Au.
Gold & Silver
95 Wellington St W Suite 1010,
P.O. Box 44
Andrew B. Adams
Independent Chairman of the Board
Jason Robert Neal
President, Chief Executive Officer, Director
Chief Financial Officer
Gilbert J.F. Lawson
Chief Operating Officer
Executive Vice President, Human Resources
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Shares of Agnico Eagle Mines fell on Tuesday after it agreed to buy TMAC Resources for about C$286.6 million ($225 million), two weeks after Canada's government rejected Shandong Gold Mining's bid for the indebted company on national security grounds.
Canada rejected Shandong Gold Mining's bid for indebted TMAC Resources, the companies said, amid concerns about a Chinese state-owned entity operating in the country's sensitive Arctic region.
Shandong Gold Mining <600547.SS> <1787.HK>, one of China's biggest gold producers, said on Friday it had entered into an agreement to acquire Toronto-listed TMAC Resources <TMR.TO> for around C$230 million ($164.89 million).
* TMAC RESOURCES INC - HAS NOW MADE DECISION TO SCALE DOWN OPERATIONS AND REDUCE WORKFORCE
* TMAC REPORTS IMPROVING OPERATING AND FINANCIAL RESULTS FOR FIRST QUARTER OF 2018
* TMAC APPOINTS MAARTEN THEUNISSEN AS CHIEF FINANCIAL OFFICER AND RON GAGEL AS EXECUTIVE VICE PRESIDENT, CORPORATE AFFAIRS
* TMAC REPORTS OPERATING AND FINANCIAL RESULTS FOR FOURTH QUARTER AND YEAR 2017
* TMAC RESOURCES PROVIDES FOURTH QUARTER OPERATIONS UPDATE AND 2018 MILESTONES
* TMAC RESOURCES APPOINTS JASON NEAL AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
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