Wednesday, 21 May 2014

Junior Gold Mining M&A - Rio Alto bids $300m for Sulliden in Peru

Rio Alto(RIO.TO) today proposed the acquisition of Sulliden (30 miles from Rio Alto's La Arena) for $300m to create a larger Peru based Gold miner developing Sulliden's Shahuindo Gold project (2.4m oz M&I, 1.6m Inferred).
Sulliden had a $24m investment from Agnico Eagle in April 2013 last year, amongst a series of Agnico junior investments, (see here ). Sulliden is one of Stan Bharti's Forbes & Manhatten companies.

Sulliden's 2012 Feasibility Study indicated a staged development with low initial capex around $130m
Raymond James on the 2012 Feasibility Study
Sulliden's PDAC presentation

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