GSV - Orla Mining buys Gold Standard Ventures in C$242M deal

Gold Standard Ventures (NYSE:GSV) +6.2% pre-market after Orla Mining (NYSE:ORLA) agreed to acquire the company via a court-approved plan of arrangement for C$242M. The deal implies a purchase price of C$0.655/share, a 35% premium based on Gold Standard's (GSV) June 10 price on the Toronto Stock Exchange. Gold Standard's (GSV) key asset is the 100%-owned South Railroad open pit, heap leach project located on Nevada's Carlin trend; in February 2022, the company completed a feasibility study, and permitting activities are currently underway. "South Railroad combined with the Camino Rojo Oxide Mine and Orla's robust organic growth pipeline in Mexico and Panama creates a path towards annual gold production of 500K oz. at industry leading all-in cost margins," Orla (ORLA) said. Orla Mining (ORLA) recently reported Q1 adjusted earnings of $0.08/share on revenues of $39M.

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Orla Mining buys Gold Standard Ventures in C$242M deal