M&A Deal Summary

Kinross Acquires Peak Gold Project

On September 30, 2020, Kinross acquired metals/mining company Peak Gold Project from Royal Gold and Contango for 94M USD

Acquisition Highlights
  • This is Kinross’ 4th transaction in the Metals/Mining sector.
  • This is Kinross’ 4th largest (disclosed) transaction.
  • This is Kinross’ 1st transaction in the United States.
  • This is Kinross’ 1st transaction in Alaska.

M&A Deal Summary

Date 2020-09-30
Target Peak Gold Project
Sector Metals/Mining
Buyer(s) Kinross
Sellers(s) Royal Gold
Contango
Deal Type Divestiture
Deal Value 94M USD

Target

Peak Gold Project

Alaska, United States
The Peak Gold project is a relatively high-grade deposit with a large estimated resource base that is expected to commence production in 2024 as a low-cost, open-pit mine.

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Buyer(S) 1

Buyer

Kinross

Toronto, Ontario, Canada

website


Category Company
Founded 1993
Sector Metals/Mining
Employees8,447
Revenue 3.5B USD (2022)
DESCRIPTION

Kinross is a Canadian gold mining company with mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia. The Company was formed in 1972 and employs approximately 5,500 people worldwide. Kinross Gold was founded in 1993 and is based in Toronto, Canada.


DEAL STATS #
Overall 4 of 5
Sector (Metals/Mining) 4 of 5
Type (Divestiture) 1 of 1
State (Alaska) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 Aurelian Resources

Toronto, Ontario, Australia

Aurelian Resources Inc. is a mining company focused on mining opportunities, primarily gold, silver, and base metals, in Ecuador. The Company was formed in 2002.

Sell $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-08 Great Bear Resources

Vancouver, British Columbia, Canada

Great Bear Resources is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. Great Bear Resources is based in Vancouver, British Columbia.

Buy CA$1.8B

Seller(S) 2

SELLER

Royal Gold

Denver, Colorado, United States

website


Category Company
Founded 1981
Sector Metals/Mining
Employees27
Revenue 603M USD (2022)
DESCRIPTION

Royal Gold is a precious metals royalty and stream company engaged in the acquisition and management of precious metal royalties, streams, and similar production based interests. The Company owns interests on 198 properties on six continents, including interests on 37 producing mines and 23 development stage projects. Royal Gold was founded in 1981 and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Alaska) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 Ilovitza Project in Macedonia

Macedonia

Ilovitza Project is a copper-gold porphyry situated in the northwest-southeast striking Tertiary magmatic arc that covers large areas of Central Romania, Serbia, Macedonia, Southern Bulgaria, Northern Greece and Eastern Turkey. The project is located three kilometers from a two-lane paved road, which connects to a major highway through the village of Ilovitza.

Buy $175M
SELLER

Contango

Houston, Texas, United States

website


Category Company
Founded 2009
Sector Metals/Mining
Employees1
DESCRIPTION

Contango is an exploration stage company, engages in the exploration of gold and associated minerals in the United States. Contango was founded in 2009 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Alaska) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1