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485 likes. Australia-based Evolution Mining has signed a deal to acquire the Red Lake gold complex from Newmont Goldcorp in Canada for $375m in cash. The company activated its emergency response plan last Monday evening and advised that it had safely evacuated its workers and contractors amidst the bush fire threat. Evolution also agreed to pay an additional US$100 million upon new resource discovery at the mine. It spans 42,000 hectares and has produced over 29 million ounces of gold since 1949. The Red Lake greenstone belt is one of the most prolific and highest-grade gold camps in Canada (Armstrong, et al., 2018). Trillium Gold Mines (TSXV: TGM) has entered into an agreement to acquire a large land package east of Great Bear Resources’ (TSXV: GBR) Dixie property in the Red Lake gold camp of Ontario. Under the terms of the agreement, the company will also pay an additional $100m in contingent consideration upon the discovery of new resources. Since 1949, it’s produced roughly 30 million ounces of gold from 29 gold mines, 21 including the still-operating Red Lake Gold Mine 22 (previously Newmont Corp’s; recently purchased by Evolution Mining). Meanwhile, Evolution Mining said that the acquisition will be funded through an A$600m ($407m) loan facility. Red Lake currently has a mine life of about 13-year. EVOLUTION Mining has completed the US$375 million (A$552 million) acquisition of Newmont’s Red Lake gold operations in Ontario. — After striking a deal to buy Newmont Goldcorp's Red Lake gold mining complex, an Australian mining company says it already has a plan to improve the efficiency of the operations. Temas Resources Welcomes Red Lake Mining Veteran and Financier as President and CEO Contacts Contact: Nick Spencer, Investor Relations Phone: +1 (604) 332-0902 Email: ir@temasresources.com Evolution Mining produced 218,104 toz gold, 233,252 toz silver, and 14.74 million lb copper in Q4. The AISC increased to $715/toz gold. The Sydney, Australia-based gold miner acquired the northern Ontario operations from Newmont in a US$475-million deal that closed earlier this year. Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it successfully completed the sale of its Red Lake complex in Ontario, Canada to Evolution Mining Limited (ASX: EVN) (Evolution) and received cash proceeds of $375 million with future contingent payments of up to an additional $100 million tied to new resource discoveries. Evolution Mining (OTCPK:CAHPF) decided to purchase the Red Lake mine from Newmont Goldcorp ().Evolution, one of the biggest Australian gold producers, will pay $375 million to … of gold at its six mines in Australia and Canada at all-in sustaining costs (AISCs) of US$857 (A$1,198) per oz. Australia's Evolution Mining has sealed a $553 million deal with the world's biggest gold miner, Newmont Goldcorp, to buy the Red Lake gold mining complex in Canada. So despite having sold the Red Lake Mine to Australia's Evolution Mining for US$375 million, Newmont's Musselwhite Mine is still an important asset for the company. 20. Australian miners Evolution Mining and OceanaGold are believed to be out of the running to buy Red Lake gold mine in Canada. The sale was announced today. Credit: Evolution Mining Evolution Mining produced 170,021 oz. Red Lake restarted after fire EVOLUTION Mining says its Red Lake mine in Ontario remains on track to meet guidance, despite being halted for nearly a week due to a nearby forest fire. Australian companies, including Evolution Mining and OceanaGold, are believed to be in the mix to buy Newmont Goldcorps Red Lake gold mine, which is one of the largest in the world. Australia's Evolution Mining Ltd on Tuesday agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for $375 million in cash. Australia’s Evolution Mining Ltd on Tuesday agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for US$375 million in cash. An evacuation order for Red Lake has been lifted, allowing mining and development activities to resume this week Australia-based Evolution Mining has signed a deal to acquire the Red Lake gold complex from Newmont Goldcorp in Canada for $375 million in cash.. Evolution Mining executive chairman Jake Klein said: “Red Lake is an undercapitalised asset which, through a committed investment in development and exploration, is intended to become a cornerstone asset in the Evolution portfolio. Gold miner Evolution Mining has resumed mining at its Red Lake gold mine, in Ontario. Newmont Goldcorp Sells Red Lake to Evolution Mining November 27, 2019 | Breaking News Newmont Goldcorp entered into a binding agreement to sell the Red Lake underground gold mining complex in Ontario, Canada, to Australia-based Evolution Mining Ltd. for $375 million in cash and contingent payments of up to an additional $100 million tied to new resource discoveries. March 31, 2020 - Newmont Corporation successfully completed the sale of its Red Lake complex in Ontario, Canada to Evolution Mining Limited and received cash proceeds of $375 million with future contingent payments of up to an additional $100 million tied to new resource discoveries The partnership between Evolution Mining and the Municipality of Red Lake continues to be strengthened. Evolution's new Red Lake mine in Ontario Finance > M-a; 01 April 2020 ... the most comprehensive source of mining industry news and information on global commodity price movements and trends. Our Red Lake Operation includes the Red Lake and Campbell underground mining and processing complexes, and Cochenour, a potential new source of ore. As Evolution's newest asset and our first in North America, we are excited by the opportunities here. Our facility has a Weight & Cardio Room, Swimming Pool, Lessons, Fitness Classes, 5-Pin Bowling Alley, Curling Rink, Event & … Evolution Mining RLO Recreation Centre. RED LAKE, Ont. Most popular. Courtesy of Newmont Goldcorp. Red Lake Complex's new owners will put a three-year plan in place to turn it into a "cornerstone asset." in the third quarter – … The community was hit with a State of Emergency in early August as the result of a nearby wildfire and evacuation. Australia’s Evolution Mining Ltd on Tuesday agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for $375-million in cash. Evolution Mining has released an updated resource for its recently acquired Red Lake gold operation, which the company says is materially higher than the figures estimated during its due diligence of the acquisition.. The Red Lake Mine complex has plenty more gold to be discovered, said its new Australian owners. Evolution Mining’s Red Lake mine in northwestern Ontario. Evolution is now saying thank you to all first responders and volunteers who worked tirelessly during the crisis. Under the terms of the agreement, the company will also pay an additional $100 million in contingent consideration upon the discovery of new resources. Newmont Goldcorp (NYSE:NEM) unloaded its Red Lake complex to Evolution Mining, an Australian gold producer, for $375 million in cash and contingent payments of up to an additional $100 million tied to new resource discoveries. Evolution Mining has suspended operations at its Red Lake gold mine in Canada due to a bushfire. P0V 2M0 Phone: (807) 727-7433 Cell Phone: (807) 727-2984 Office Fax: (807) 727-2127 Email: ackewance@bell.net VANCOUVER, British Columbia, July 22, 2020 — Pure Gold Mining Inc. (PGM:TSX-V, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that the Ontario Ministry of the Environment, Conservation and Parks (MECP) has approved and issued an Amended Environmental Compliance Approval (“ECA”) for Air and Noise emissions at the PureGold Mine, located in Red Lake Ontario, … (Credit: Pixabay/PublicDomainPictures) Australia-based gold mining company, Evolution Mining has completed the acquisition of Red Lake gold mine in Canada from Newmont for $375m. Stock analysis for Evolution Mining Ltd (EVN:ASE) including stock price, stock chart, company news, key statistics, fundamentals and company profile. The transaction follows an agreement signed by Evolution to acquire the gold mine in November last year. 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