Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 17, 2021

Article Excerpt

KINROSS GOLD CORPORATION, $7.16, symbol K on Toronto, is a Canadian gold producer with three mines in the U.S., one in Brazil, two in West Africa, and one in Russia. In 2021, it’s expected to produce 2.1 million ounces of gold. By 2023, that should grow to 2.7 million. On December 8, 2021, Kinross announced that it would buy Great Bear Resources Ltd. (symbol GBR on Toronto) for $1.8 billion. Great Bear shareholders can opt for up to 75% in cash and 40% in Kinross stock. Meanwhile, Great Bear shareholders would be in for a contingent payment of $58.2 million in Kinross shares if it’s found to possess future production of at least 8.5 million ounces. Great Bear operates the early-stage Dixie project in Northern Ontario. The open-pit deposit is considered one of the top gold discoveries in recent years. Located in Ontario’s Red Lake mining district, the Dixie project is accessible year-round by highway and close to significant infrastructure, including paved roads, electricity…