Australian companies (also listed on Toronto) Troy and Azimuth are looking to combine, using Troy's cash, cashflow from production, and recent mine building experience, to develop Azimuth's near surface relatively high grade (3g/T) deposit in Guyana.
Troy's stock has been weak, along with many other gold miners', recently with added concerns around operations in Argentina.
The deal would value Azimuth at $188m, a 60% premium similar to Troy's Market CAP.
Troy's stock traded at A$2.40-2.50 pre-announcement, down to A$1.90 today giving an MCap of A$173m
Article at Mineweb - HERE
Broker Note at Resources Roadhouse - HERE
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