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TDG Gold Corp T.TDG.DB


Primary Symbol: V.TDG

TDG Gold Corp. is a mineral tenure holder in the Toodoggone Production Corridor of north-central British Columbia, Canada. The Toodoggone Production Corridor has over 23,000 hectares of brownfield and greenfield exploration opportunities. Its flagship projects are the former producing, high-grade gold-silver Shasta and Baker mines. The Baker-Shasta property covers just over 6,000 hectares. Its Oxide Peak project covers 8,490 hectares of prospective exploration ground to the north of and contiguous with Baker Complex. The Oxide Peak provides multiple opportunities for copper-gold porphyry discoveries. Its Mets mining lease is a 200 hectare mining lease, which is accessible by road 23 km northwest of its former producing Baker mine. Its BOT project consists of over 8,600 hectares located approximately 40 kilometers north of its 100% owned Baker-Shasta gold-silver project. Its 100% owned Baker Complex shows potential to host multiple intrusive-related copper-gold-molybdenum porphyries.


TSXV:TDG - Post by User

Post by kijijion Oct 10, 2018 10:29am
134 Views
Post# 28772506

PD Combines with Trinidad Drilling

PD Combines with Trinidad Drilling
Precision') (TSX: PD; NYSE: PDS) is pleased to announce that it has entered into an arrangement agreement (the 'Arrangement Agreement') with Trinidad Drilling Limited ('Trinidad') (TSX: TDG) pursuant to which Precision has agreed to acquire all of the issued and outstanding common shares of Trinidad (the 'Trinidad Shares') on the basis of 0.445 common shares of Precision (the 'Precision Shares') for each outstanding Trinidad Share pursuant to a plan of arrangement (the 'Transaction').
 
The aggregate Transaction value is approximately $1,028 million, including the assumption of approximately $477 million in Trinidad net debt. Upon completion of the Transaction, existing holders of Trinidad Shares will collectively own approximately 29% of Precision.
 
Kevin Neveu, President and Chief Executive Officer of Precision remarked, 'This transaction creates exceptional value for both Trinidad and Precision shareholders. The combination provides a truly unique opportunity to combine two highly-focused drilling contractors that are pursuing similar growth initiatives and competitive strategies and importantly, operating similar Tier 1 assets.'
 
'From a strategic perspective, Trinidad is a perfect fit with Precision. We can realize immediate synergies, estimated to be over $30 million, through fixed cost reductions, operational efficiencies and reduced public company costs. Over the long-term, the additional scale will further strengthen Precision's operating leverage and positions the company to service our customers' continued transition to High Performance drilling services with high spec AC rigs. Additionally, this combination allows us to better differentiate our service offering through our combined industry leading drilling technology initiatives and a larger operating platform.'
 
'The incremental free cash flow generated through this combination will ensure Precision meets or exceeds our long-term debt reduction targets and improves our financial flexibility to pursue growth opportunities in the United States and in international markets.'
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