According to AngloGold, this combination would consolidate the Beatty District, one of the largest new gold districts in Nevada, US.
Corvus presently holds the North Bullfrog, Mother Lode and other exploration assets located in southern Nevada’s Beatty District, in close proximity to or contiguous with AngloGold’s exploration assets of Silicon, Transvaal and Rhyolite.
The deal AngloGold Ashanti to establish a low-cost production base in a premier mining jurisdiction, in the medium and longer term, the miner said.
The company plans to develop North Bullfrog first, with production in the next three to four years. Next in line would be Silicon, Merlin (including Lynnda Strip) and Mother Lode. Targets will be considered with strict reference to the company’s capital allocation framework.
Pending court approvals and customary approvals, the companies expect the transaction to be effective on or around January 18, at which time Corvus will be delisted from the TSX and Nasdaq.
