Back in February and five days before the deal hit, we revealed the biggest mining M&A deal of the year so far when Tahoe Resources (TAHO) (THO.to) acquired Lake Shore Gold (LSG) (LSG.to) in an all-share friendly deal.
This morning we knock that one out the park, because the late stage talks between Goldcorp (GG) and Barrick (ABX) aren’t just enough for “biggest miner” deal, this is fusion that will make world-scale headlines. And you read it here first, ladies and gentlemen.
Garofalo is about to make his name forever. Expect a “we have no comment to make” NR from GG and/or ABX later on today.
UPDATE 09:30am local time Friday: Reader S mails in and adds extra information to this breaking story:
UPDATE 09:30am local time Friday: Reader S mails in and adds extra information to this breaking story:
“…FCX is also in on the deal, all three are rolling up into a
conglomerate, and they even have a name picked out, Freeport Occident
& Orient Lingotes.”
This could become a world record mining deal.
UPDATE 2: The market is beginning to react to the news on this potential massive deal. More information here and here.
UPDATE 3 midday Friday April 1st: We at IKN Nerve Centre send you warm and fraternal greetings on this April Fool’s Day and hope you have a pleasant weekend.