Pilar Gold Laiva mine acquisition in Finland Got the latest update from Pilar Gold at the weekend - they've just acquired Laiva gold mine in Finland. It's a large open pit operation with a modern 6,000 tonnes per day facility. All equity deal of 30 million shares at current C$1 raise and 10 million warrants at C$1.50. They've also now brought on a major institutional investor who's agreed to put in C$3.1 million as an equity investment. Makes Valterra's current market cap look very undervalued considering the size of their Pilar holding. But I guess the value in VQA won't be seen until after Pilar's listing.
They plan to reach 200k oz p.a. by 2024 from their current 45k oz which looks acheivable once they start production at Sertao and Laiva. Public listing has been pushed forward to 2023 but I think worth the wait as would be more difficult to make these sorts of acquisitions once the company is public.
Here's a link to the announcement - Pilar Gold announces Acquisition of the Laiva Gold Mine in Finland