trending Market Intelligence /marketintelligence/en/news-insights/trending/l1vwwpqtquhy3wyxzj5jng2 content esgSubNav
In This List

Resolute to purchase 15% stake in Orca Gold

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Resolute to purchase 15% stake in Orca Gold

Resolute Mining Ltd. is buying a 15% stake in Orca Gold Inc.'s fully diluted capital for approximately A$22.5 million.

The company said May 28 it agreed to subscribe for 32,364,960 new Orca shares via a two-tranche placement at 67.5 Canadian cents per share.

Resolute will also receive 1,876,442 warrants at 67.5 cents apiece to maintain its 15% interest, after Orca completes its previously announced acquisition of Kinross Gold Corp.'s exploration assets in Ivory Coast.

The company will also secure a right to nominate a director to Orca's board after completion of the placement. The companies plan to jointly explore for gold deposits in Sudan, Ivory Coast and other African regions.