trending Market Intelligence /marketintelligence/en/news-insights/trending/kdyrxxydzcqsmlqbgwwvug2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Alio Gold's all-share bid values Rye Patch Gold at C$128M

COVID19 Mining Impacts Mining Projects With At Risk Production

Mining Insights Newsletter June 2020

A Decade of Underperformance for Gold Discoveries

State of the Market: Mining Q1-2020


Alio Gold's all-share bid values Rye Patch Gold at C$128M

Alio Gold Inc. agreed to acquire Rye Patch Gold Corp. in an all-share deal valuing the latter at about C$128 million, the companies said March 19.

Each common share of Rye Patch will be exchanged for 0.48 of an Alio Gold share, implying a value of C$1.57 per Rye Patch share and a 35% premium based on the 20-day volume-weighted average trading price of the two companies' shares.

The transaction is expected to close by May 25.

Following closing, existing Alio Gold and Rye Patch shareholders will own approximately 53% and 47% of the combined company, respectively.

The combined entity will have 165,000 ounces of gold production in 2018.

In connection the transaction, Macquarie Bank agreed not to exercise its right to require immediate repayment of the existing Florida Canyon project loan as a result of the change of control, subject to certain conditions.

At closing, the outstanding principal on project loan is expected to be C$15 million. Rye Patch Gold owns the Florida Canyon gold project in Nevada.

Alio Gold will continue to be managed by the executive team in Vancouver, British Columbia, led by Greg McCunn as CEO and Colette Rustad as CFO, with plans to appoint Doug Jones from Rye Patch as COO.

The resulting entity's board will comprise Bryan Coates as chairman and two directors from Rye Patch, Tim Baker and John Mansanti.

The parties will pay a C$4 million termination fee should the deal fall through.

Officers and directors of Rye Patch and certain shareholders including Primevest Capital Corp. have agreed to support the deal. The transaction was also unanimously approved by the board of Rye Patch.