Wednesday, November 14, 2018

Tahoe Resources Inc. - THO.t

Tahoe Resources Inc. - THO.t operates the shuttered Escobal project, a high-grade silver discovery located about 70 km southeast of Guatemala City, the La Arena and Shahuindo gold mines in Peru and the Timmins West and Bell Creek gold mines in Canada.
On November 14, 2018 the company released News

Pan American Silver Corp. and Tahoe Resources Inc. have entered into a definitive agreement for Pan American to acquire all of the outstanding shares of Tahoe pursuant to a plan of arrangement.

Pursuant to the arrangement, Tahoe shareholders may elect to receive $3.40 (U.S.) in cash or 0.2403 Pan American share for each Tahoe share, subject in each case to proration based on a maximum cash consideration of $275-million (U.S.) and a maximum number of Pan American shares issued of 56.0 million, totalling $1,067-million (U.S.). The base purchase price represents a premium of 34.9 per cent to Tahoe's volume weighted average price (VWAP) for the 20-day period ending on Nov. 13, 2018.

In addition, Tahoe shareholders will receive contingent consideration in the form of contingent value rights (CVRs), that will be exchanged for 0.0497 Pan American share for each Tahoe share, currently valued at $221-million (U.S.), and payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine.
On November 6, 2018 the company released News

Tahoe Resources loses $190-million in Q3 2018

Tahoe Resources Inc. has released financial and operating results for the thirdquarter ended Sept. 30, 2018. The company produced 91,200 ounces of gold during the quarter at total cash costs and all-insustaining costs (AISC) of $807 and $1,263 per ounce, respectively.