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Coeur Krebs plans to acquire Northern Empire Resources

Mining News - Published on Mon, 03 Sep 2018

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Coeur Mining Inc plans to expand its focus on Nevada with the acquisition of Northern Empire Resources Corp. Mr Mitchell Krebs, Coeur president and CEO, said that “The acquisition of Northern Empire, with its high-grade Sterling Gold Project and large, prospective land package, comes at an opportune time for us to bolster our pipeline with high-quality projects. The transaction, which provides a unique opportunity for Coeur to leverage its operational expertise in Nevada, a leading mining jurisdiction, and add expected near-term, high-margin production and cash flow with minimal upfront capital, together with significant exploration potential, satisfies our acquisition criteria and is accretive on all key financial and operational metrics.”

The company announced plans in August to obtain all of the issued and outstanding securities of Northern Empire not already owned by Coeur. Northern Empire’s principal asset is the Sterling Gold Project in Nevada, consisting of four high-grade heap-leachable deposits. The project, about 115 miles from Las Vegas on the Walker Lane trend, is a fully permitted, past-producing mine with near-term, low cost, low capital production potential, Coeur stated. The remaining deposits are known collectively as Crown Block, and they contain exploration potential and 17 untested new targets.

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Posted By : Rabi Wangkhem on Mon, 03 Sep 2018
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