Last week, Treasury Metals (TML.v TSRMF) announced the completion of their merger with Giustra-backed Blackwolf Copper and Gold (BWCG.v BWCGF).
Acquiring all outstanding shares of BWCG, TML and former BWCG shareholders now own 68% and 32% of the combined company respectively.
With a fortified balance sheet and combined cash position of more than C$10M post merger, this has created a strong and more diversified company aiming to leverage a buy/build strategy to grow into a mid-tier gold company focusing on near term buildable assets.
Resulting in significant benefits to investors, this deal provides shareholders with 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.
Currently at a PFS share with environmental approval, the anticipated production from the project is 109,000 ounces of gold annually at a cash cost of US$892 per ounce with a 13 year mine life.
Full News Release:
https://treasurymetals.com/news/treasury-metals-and-blackwolf-complete-business-co-2908065/ Posted on behalf of Blackwolf Copper and Gold Ltd.