Canadian gold miner, Guyana Goldfields Inc (GGI) – which runs a large-scale mine in Cuyuni/Mazaruni – is mulling acceptance of a new buyout offer from a foreign-based company. This after inking an agreement of purchase from a Canadian-owned company, Silvercorp.
In a release in Toronto, Canada, yesterday, GGI made the surprise announcement that it has received a “binding proposal” from a foreign-based multinational mining company for the acquisition of all its issued and outstanding common shares not already owned by the new offeror. The release states that the GGI board of directors had “unanimously determined, after consultation with its financial and legal advisors’ that the new offer on the table constitutes what it terms as a “superior proposal” compared to the terms of the arrangement agreement between the Company and Silvercorp Metals Inc dated April 26, and amended on May 16.
