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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: chronicle who wrote (1228115)	5/8/2020 9:59:40 AM
From: longnshort	2 Recommendations Recommended By FJB locogringo Read Replies (1) \| Respond to of 1577883

what children or is this your typical lefty word game

To: chronicle who wrote (1228115)	5/8/2020 12:31:46 PM
From: Maple MAGA	Respond to of 1577883

China’s Shandong buys Canadian gold miner TMAC Resources for US$149-million NIALL MCGEE MAY 8, 2020 TMAC Resources operates the Doris mine in Nunavut, which went into production in 2017 before encountering operational setbacks such as lower gold recovery rates than expected. IAN WILLMS/NYT State-controlled Chinese gold company Shandong Gold Mining Co. Ltd. is buying Canada’s TMAC Resources Inc. for US$149-million, the latest struggling junior to be swept up by larger and better capitalized seniors. Shandong is paying $1.75 a share in cash, 4.2 per cent above the Thursday close on the Toronto Stock Exchange. Toronto-based TMAC was founded by well-known mining entrepreneur Terry MacGibbon. Its chief executive is ex-BMO Nesbitt Burns Inc. mining banker Jason Neal. TMAC operates the Doris gold mine in Nunavut, which went into production in 2017. Over the years, the miner has grappled with operational issues, particularly problems with its mill. TMAC is the third underperforming Canadian gold company to be acquired in the past few months at a fraction of their highs. Guyana Goldfields Inc. and Semafo Inc. were also recently acquired by Silvercorp Metals Inc. and Endeavour Mining Corp. TMAC went public in 2015 at $6 a share, raising $155-million from public investors. In a little over a year, its stock more than tripled to $19 a share. But as the Doris mine went into production in 2017, it started to encounter operational setbacks, such as much lower gold recovery rates than expected. In 2018, TMAC brought in Mr. Neal, the same banker who worked on the company’s initial public offering. Amid a persistent stock slide, TMAC launched a strategic review of the company earlier this year. Among TMAC’s biggest shareholders are Newmont Corp., the world’s biggest gold producer, and Resource Capital Funds. Mr. MacGibbon is also still a major shareholder. Mr. MacGibbon founded FNX Mining Co. Inc., which merged with Quadra Mining Ltd. in 2010. That company was later sold to for $2.9-billion to KGHM Polska Mied SA of Poland. While the acquisition of TMAC by Shandong has been welcomed by TMAC’s biggest shareholders and endorsed by its board, a First Nations stakeholder has yet to give the deal its final approval. In TMAC’s statement on Friday, Stanley Anablak, president of the Kitikmeot Inuit Association, said it will conduct its own due diligence on the deal to make sure it meets its own criteria which includes protecting and promoting “the social, cultural, political, environmental, and economic well-being of Kitikmeot Inuit.” The acquisition is also subject to a review under the Investment Canada Act and the Competition Act. The deal comes as Ottawa is tightening its scrutiny of Canadian takeovers by foreigners. The Trudeau government recently said it was removing any threshold for scrutinizing investments in any sector by state-owned or state connected entities into Canadian firms. While Shandong Gold trades on public exchanges in China, it is 47 per cent owned by the local Chinese government.