Australian gold miner Newcrest Mining (ASX, TSX: NCM) is poised to increase its stable of operating gold mines in B.C. through a $2.8 billion acquisition of Pretium Resources (TSX,NYSE:PVG) and its Brucejack mine.
In 2019, Newcrest paid $1.1 billion for a 70% stake in the Red Chris gold mine, built by Imperial Metals (TSX:III).
Pretium’s Brucejack gold mine in northwest B.C.'s Golden Triangle is small, but has high gold grades. And in October, 2021, Pretium announced a new high-grade discovery at its Golden Marmot Zone.
“Initial results from Golden Marmot are exciting and affirm the district-scale potential of the Brucejack property,” Pretium CEO Jacques Perron said in a press release in October.
Pretium has scheduled a special meeting for Thursday to vote on the offer. Two proxy advisory firms, Institutional Shareholder Services and Glass Lewis & Co. LLC, have recommended Pretium’s board of directors and shareholders to vote in favour of Newcrest’s offer.
