A view of the Antino project area. Credit: Founders Metals.
Gold Fields (NYSE, JSE: GFI) agreed to pay about C$50 million ($36 million) to become the biggest shareholder in Founders Metals (TSXV: FDR), which is developing the Antino gold project in Suriname.
Johannesburg-based Gold Fields will acquire about 12 million Founders common shares – good for a 12% stake – at C$4.15 apiece, the Vancouver-based company said Monday. The deal is expected to close by Nov. 10, subject to customary conditions, including TSX Venture Exchange approval.
This is the second significant Canadian mining investment in as many years by Gold Fields, one of the world’s largest miners. It spent C$2.2 billion last year to acquire Toronto-based Osisko Mining to become the sole owner of the Windfall project and the surrounding exploration district in Quebec.
“Combining Founders’ position as the largest and most advanced…
