KLONDEX MINES LTD. T.KDX

Klondex buying Bison Gold Resources??? WTF Nowhere listed

[JintsuGehan]

I happened to google Klondex Mines this morning. This pops up under banner as a top news item:

Bison is up 85 % on TSX Venture. No wonder KDX is down so much lately. 

Klondex Mines set to buy Canadian explorer Bison Gold Resources 

Share  

14:57 08 Aug 2017

Bison said its board had approved the deal, which will be carried out via a plan of arrangement.Precious metals producer Klondex Mines Ltd (NYSE:KLDX, TSE:KDX) reported it is set to acquire Bison Gold Resources Inc (CVE:BGE) - a Canada focused gold exploration firm.

Bison said its board had approved the deal, which will be carried out  via a plan of arrangement, and will recommend Bison shareholders vote in favour.

The consideration will be in Klondex shares, cash or a combination of both, but is based on a price of US$0.59 per Bison share, which represents a big 131% premium to the last Bison closing price on August 2 this year.

Completion of the deal is subject to various conditions, including court approval, and the agreement of not less than 66% of Bison shareholders.

Bison's focus has been on two strategically situated gold properties -  the Central Manitoba (CM) and the Ogama/Rockland (OG) past producing mines in Canada.

These have now been consolidated and are called the Central Manitoba Property (CMP) and the Cryderman property.

Klondex has three producing properties -  the Fire Creek Mine and the Midas Mine and mill in Nevada, USA, and the True North Gold Mine and mill in Manitoba, Canada.

It also has the Hollister mine and the Aurora mine and ore milling facility, also  in Nevada, USA.

[CaptainConn]

Dilution is NOT what we need right now. No wonder share price is getting crushed. Does anyone have info on Bison's properties ?

[goldminer01]

This post has been removed in accordance with Community Policy

[Cashcosts]

They are repeating the Nevada strategy.  The 2 main deposits are 25km from True North.  Mine there and then feed the big mill.  This is a tiny tiny deal... hopefully they do it in cash.  It's at KLDX discretion.

[JintsuGehan]

Yes indeed it's an extremely small market cap play, but the point of post was to show that NOWHERE on KLDX corporate website this morning was this listed nor did KLDX issue its own press release.  Only Bison issued its own press release. Illusive.

[Looking4Doubles]

Agreed.  They can easily take this out of the 2nd qtr cash flow.  Bottom line, Just gives us another opportunity to lower our average cost on good resources.  I added more around $2.86.