>>7421356
>https://business.financialpost.com/commodities/mining/chinas-zijin-mining-agrees-to-buy-canadas-continental-gold-for-about-1-bln
Zijin Mining Group Co Ltd , one of Chinaโs biggest gold miners, has agreed to buy Canadian miner Continental Gold Inc for $1.33 billion, saying the purchase would increase its gold reserves and boost cash flow as well as profit.
Zijin will pay $5.50 per share in cash for Continental, a premium of about 13 per cent to the Canadian companyโs closing price on Friday, as it aims to secure Continental Goldโs flagship Buritica gold project, the Chinese company said in a filing with the Shanghai Stock Exchange.
The Buritica project, located in Colombia, has measured and indicated gold reserves of 165.47 tonnes and an inferred reserve of 187.24 tonnes, Zijin said.