With Mexican government approval in hand, this
gold producer expects to close the acquisition within a week.
The Vancouver-based gold producer Leagold Mining
Corp. (LMC:TSX.V; LMCNF:OTCQX) recently announced that the Mexican Comisión Federal de
Competencia Económica (COFECE) approved its acquisition of Brio Gold Inc.
This approval was the final one necessary, and Leagold expects to close
the acquisition by May 24, 2018.
In April 2018, Brio shareholders approved the acquisition by Leagold.
Brio has three functioning gold mines in Brazil. It has one mine that is
on care and maintenance, but expects to re-activate it at the end of 2018.
The company reported that Brio anticipates gold production for 2018 in the
range of 205,000 to 235,000 ounces. That amount could increase to 400,000
ounces for 2019.
Leagold also fully owns the Los Filos mine in Mexico, which it purchased
from Goldcorp in early 2017.
