The sales process has been running for some time. Below is a...

The sales process has been running for some time. Below is a note from RBC on 1 December 2023, referencing an article in The Australian.This original detail was likely leaked by RBC itself to promote the sales process it was running or one of the parties invited to participate leaked to gain credit with the paper.

Like the Money of Mines team said, I think the news yesterday was leaked by one of the sale process participatiants who wasn't short listed or their advisors. Lots of people working on this, companies, lawyers, investment bank deal advisory, debt bankers, equity brokers. Loose lips when you've no longer got anything to gain or sometimes more sinister (Money of Mines speculate that second runner, hoping to spoil Gold Road's equity raise and swoop in, or potential takeover canditate trying to scupper deal and swoop in at lower price). My money's on the usual scenario - often investment bankers who's horse lost out try to build credit with the newspaper so they can get their desired news published when the need arises. I'll scratch your back, you scratch mine.


M&A: EQX/EVN/NST: (The Australian) Aussie miners circle $1bn-odd Canada gold play. Some of the most prominent names in Australian gold mining are believed to be lining up to further their exposure to the lucrative Canadian market as Orion Mine Finance taps RBC to sell its interest in the $1bn-plus Greenstone Gold Mines. The Greenstone Gold Mines properties are 60 per cent owned by Equinox Goldand 40 per cent Orion Mine Finance and involve the development of the Hardrock Project and the Kengamisis, Brookbank and Viper Properties. The assets are pre-development, which is where Evolution Mining says it sees the strongest value when it comes to its desire to buy assets in Canada, although it would be unlikely to acquire a minority interest given its operational expertise. The other logical Australian listed buyer is Northern Star Resources.