WASHINGTON (dpa-AFX) - Newmont Corp. (NEM, NGT.TO) and GT Gold Corp. (GTT.V) have entered into a binding agreement, according to which Newmont will acquire the remaining 85.1% of common shares of GT Gold not already owned by Newmont. Newmont will acquire each GT Gold share at a price of C$3.25, for cash consideration of approximately C$393.0 million.
GT Gold is engaged in advancing its wholly-owned, 47,500 hectare Tatogga property, located near Iskut, British Columbia. To date, GT Gold has made two significant discoveries on the Tatogga property.
'We are excited to expand our world-class portfolio to include the Tatogga project in the Tahltan Territory located in the highly sought-after Golden Triangle district of British Columbia, Canada,' said Newmont CEO Tom Palmer.
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