Tudor Gold (TSXV: TUD) has agreed to acquire American Creek Resources (TSXV: AMK) in an all-share deal that would increase its interest in the Treaty Creek project in northwest British Columbia.
Tudor currently owns 60% of Treaty Creek, which hosts a large gold-copper porphyry system alongside several other mineralized zones across a 179-sq.-km land package. The property borders Seabridge Gold’s KSM — the world’s largest undeveloped gold-copper project — to the southwest and Newmont’s Brucejack property to the southeast. The remaining 40% interest is split evenly between American Creek and Teuton Resources (TSXV: TUO).
Under a letter of intent signed last week, Tudor will acquire American Creek by issuing shares on a 0.238-for-1 basis, which, based on spot prices, represents a premium of 40%. This would increase its stake in the project to 80%.
American Creek’s shares…
