{"id":5250,"date":"2024-06-06T14:39:45","date_gmt":"2024-06-06T14:39:45","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/06\/eskay-mining-and-p2-gold-agree-to-merge-focus-on-gold-and-copper\/"},"modified":"2024-06-06T14:39:45","modified_gmt":"2024-06-06T14:39:45","slug":"eskay-mining-and-p2-gold-agree-to-merge-focus-on-gold-and-copper","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/06\/06\/eskay-mining-and-p2-gold-agree-to-merge-focus-on-gold-and-copper\/","title":{"rendered":"Eskay Mining and P2 Gold Agree to Merge, Focus on Gold and Copper"},"content":{"rendered":"<p><strong>Eskay Mining (TSXV:ESK,OTCQX:ESKYF)<\/strong><strong> announced plans to combine with P2 Gold<\/strong><strong> (TSXV:PGLD,OTCQB:PGLDF) on Tuesday (June 4) in a move it says will create a new entity focused on gold and copper exploration. <\/strong><\/p>\n<p>The non-binding letter of intent entered by the two companies outlines a deal through which Eskay will acquire all outstanding P2 Gold shares at an exchange ratio of 0.2778 Eskay shares for each P2 share.<\/p>\n<p>Eskay shareholders will hold 80 percent of the merged company, while P2 shareholders will own 20 percent.<\/p>\n<p>Once the transaction is complete, the company will have assets in BC\u2019s Golden Triangle, as well as Nevada. <\/p>\n<p>Its initial exploration focus will be Eskay-Corey project in the Golden Triangle, which P2 President and CEO Joe Ovsenek said is the region\u2019s most prospective ground without a major discovery to date. <\/p>\n<p>Ovsenek, who has a long history in the Golden Triangle, will become president and CEO of the combined company, while Mac Balkam, who is now president and CEO of Eskay, will take on the chair role at the new entity. <\/p>\n<p>Eskay notes on its website that Eskay-Corey hosts a number of volcanogenic massive sulfide targets, and has the potential to host nickel-copper massive sulfide. It also has several instances of vein-style mineralization. <span><\/span><\/p>\n<p>Looking over to Nevada, P2 will add the Gabbs gold-copper project to the new company\u2019s portfolio. A preliminary economic assessment for the asset highlights the potential for a long-life, mid-size mine with strong production prospects, as well as year-round exploration and development opportunities.<\/p>\n<p>\u2018With this transaction, Eskay has taken a significant step toward finding the next major resource in the Golden Triangle,\u201d said Balkam. \u201cThe addition of the Gabbs property in Nevada puts Eskay on a totally different level as resource explorer.\u2019<\/p>\n<p>In addition to combining exploration assets, the merger is expected to enhance the combined company\u2019s access to capital, providing the financial muscle needed to pursue large-scale exploration and development projects.<\/p>\n<p>The transaction, which will require approval from shareholders and regulators, is expected to close by October 31. <\/p>\n<p><strong>Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Eskay Mining (TSXV:ESK,OTCQX:ESKYF) announced plans to combine with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) on Tuesday (June 4) in a move it says will create a new entity focused on gold and copper exploration. The non-binding letter of intent entered by the two companies outlines a deal through which Eskay will acquire all outstanding P2 Gold shares at [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":5251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=5250"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5251"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}