Fresnillo to acquire Canada’s probe gold for $556 million
Photo: Reuters
Mexican miner Fresnillo has agreed to buy Canada’s Probe Gold for C$780 million ($556 million) in cash, expanding its presence into North America. Probe Gold shareholders will receive C$3.65 per share, a nearly 39% premium to the company’s last closing price.
Fresnillo CEO Octavio Alvídrez said the acquisition meets the company’s “strict criteria” and that Probe Gold’s assets will complement its existing project pipeline, while Mexico remains central to its strategy, News.Az reports, citing Reuters.
The deal comes amid a strong rally in gold prices this year, driven by geopolitical tensions and economic uncertainty boosting demand for safe-haven assets.
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