Set to be voted on later this month, Treasury Metals (TML.v TSRMF) anticipated to buy Giustra-backed Blackwolf Copper and Gold (BWCG.v BWCGF), creating a stronger and more diversified company.
With the vote to be held on June 26, 2024, BWCG's Board of Directors and Special committee unanimously recommend voters vote in favour of the proposed arrangement
Pursuant to the Transaction, TML will acquire all of the issued and outstanding common shares of BWCG and, upon completion, existing TML and BWCG shareholders will own ~68.3% and 31.7% of TML respectively.
With a fortified balance sheet and combined cash position of more than C$10M post merger, cornerstone investor Frank Giustra will be leading a new capital market strategy, TML's current president and CEO will become the CEO and BWCG's CEO will be appointed as president.
Near-Term Gold Production Potential Enhancing capabilities and advancing key mining projects, this deal would result in significant benefits to investors as it provides the potential for near term gold production from the Goliath Gold Complex, which has a projected NPV of $493M at 5% discount rate and IRR of 33.5% based on a gold price of US$1,950 per ounce.
Given its forecasted 13-year mine life, the anticipated production from the project is 109,000 ounces of gold annually at a cash cost of US$892 per ounce.
Further, with a renewed commitment to exploration, efforts are expected to be intensified with the Dryden, Ontario district, focused on expanding the current mineral resource area.
For more information, check out the latest interview with BWCG's CEO Morgan Lekstrom from Resource Talks regarding this deal:
https://youtu.be/ekh3HV4aYhw?si=g5oVdTe85IVSYunR&t=8299 Latest News Release:
https://blackwolfcopperandgold.com/news/latest-news/blackwolf-mails-and-files-special-meeting-materials-in-connection-with-the-proposed-plan-of-arrangement-with-treasury-metals-inc/ Posted on behalf of Blackwolf Copper and Gold Ltd.