The Prospector News

Jeff Clark – “P2 Gold (PGLDF; V.PGLD) to be bought out by Eskay Mining.”

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Jeff Clark – “P2 Gold (PGLDF; V.PGLD) to be bought out by Eskay Mining.”

 

 

 

 

 

Surprise! The two companies announced yesterday that Eskay Mining has agreed to acquire P2.

 

 

It might be viewed as a merger, but it’s actually a buyout, since Eskay is purchasing all of P2’s shares.

 

 

Our shares will be exchanged for 0.2778 of a common share in Eskay. We will own approximately 20% of the combined company.

 

 

The stock fell yesterday, probably because the market would’ve preferred P2 to pursue Gabbs on their own. But the company ran out of runway on the financing-royalty option and had to take the deal.

 

 

P2 management will be running the combined company, which will have a market cap north of $80M once it closes. This will give them better access to capital markets to advance Gabbs. Current Eskay CEO Mac Balkam will become Chair of the combined company.

 

 

Also, ESK has one of the best pieces of ground in the Golden Triangle without a major discovery to date. Management expects to be on the ground exploring by July and drilling in August. This will be the initial exploration focus of the company.

 

 

The stock today is even at the time of writing. Jeff continues holding his position.

 

Courtesy of the Gold Advisor

 

Posted June 9, 2024

Share this news article

MORE or "UNCATEGORIZED"


North Bay Resources Announces Assays up to 5.69% Copper, 1 Opt. Silver, and 0.22% Vanadium at Copper Island Project, British Columbia

North Bay Resources, Inc. ( (OTC: NBRI) is pleased to announce re... READ MORE

March 10, 2025

McEwen Mining Inc. Completes $10,000,000 Strategic Investment In Goliath Resources Limited At $1.93 Per Unit

Further to its press releases dated January 29, 2025 and February... READ MORE

March 10, 2025

Franco-Nevada Reports Q4 and Year-end 2024 Results

Strong Fourth Quarter Performance “Our portfolio del... READ MORE

March 10, 2025

G2 Goldfields Significantly Increases Gold Resources at the Oko Project, Guyana

G2 Goldfields Inc.  (TSX: GTWO) (OTCQX: GUYGF) is pleased to ann... READ MORE

March 10, 2025

Jeff Christian - "Silver Crisis 'Update' And The True Value Of Gold- Market Update" (Video)

In this presentation, Jeffrey Christian of CPM Group looks at some myths that continue to gai... READ MORE

March 7, 2025

Copyright 2025 The Prospector News