A Canadian listed mining company, with significant gold projects in Brazil and Mexico, has completed the acquisition of a fellow gold producer as it looks to boost it portfolio.
Leagold Mining Corporation announced this week that it had completed the acquisition of Brio Gold, which will see the company’s shares delisted from the Toronto Stock Exchange.
Running alongside the acquisition is the news that Leagold has also welcomed Peter Marrone, Chairman and CEO of Yamana Gold, to the Leagold Board of Directors.
Neil Woodyer, Leagold CEO, stated: “We are very excited about Leagold’s new position as a mid-tier gold producer with the growth of our production rate to over 400,000 ounces per year. Our business and market profiles are strengthened by our diversification in both Mexico and Brazil and across four operating mines. Leagold’s measured and indicated resources have increased to 16.4 million ounces and proven and probable reserves have increased to 5.6 million ounces. We expect to provide updated 2018 guidance with Q2 earnings to be released in August 2018 and following a review of the operating plans.
Leagold Mining intends to be a mid-tier gold producer with a specific focus on Latin America. The company expects to produce 420,000 - 475,000 ounces of gold in 2018, ramping up to 700,000 ounces of gold by 2020.