Guyana Goldfields receives offer 35% higher than Silvercorp’s

Toronto-listed gold miner Guyana Goldfields has received a binding proposal from a foreign-based multinational mining company for the acquisition that is superior to that of fellow-listed Silvercorp Metals, valuing it at C$323-million.

The offer from the unnamed party constitutes a cash consideration of C$1.85 a share. The new offeror has also agreed to provide Guyana with a $30-million secured loan facility to finance ongoing operations of the Aurora gold mine and to fund other liquidity needs of the company.