New Gold and Coeur shareholders back merger deal
Shareholders of both New Gold and Coeur Mining have approved the proposed plan of arrangement to combine the two companies, creating a new North American precious metals producer.
At special meetings held on January 27, investors in both companies voted in favour of the transaction, under which a wholly owned subsidiary of Coeur will acquire all of the issued and outstanding shares of New Gold.
The transaction is being implemented under the Business Corporations Act of British Columbia.
New Gold shareholders approved the arrangement with more than 99% support.
President and CEO Patrick Godin said the strong backing reflected confidence in the proposed combination.
“The overwhelming support shown by New Gold shareholders is a strong endorsement for this transformative combination and marks a key milestone in bringing these two companies together,” he said.
“This transaction brings together two companies with similar cultures of a strong focus on health and safety, similar financial strength and cash flow generation, and will provide significant exploration upside and the potential to significantly extend mine life and grow net asset value per share. I strongly believe in this combination, creating a new, all North American precious metals company that is unique to our industry.”
Coeur shareholders also voted in favour of the resolutions required to give effect to the transaction at a meeting held on the same day.
The transaction remains subject to final approval from the Supreme Court of British Columbia, regulatory approvals and other customary closing conditions. The companies expect the deal to close in the first half of 2026.
Under the terms of the arrangement, New Gold shareholders will receive 0.4959 Coeur shares for each New Gold share held.
Following completion, Coeur and New Gold shareholders are expected to own about 62% and 38% of the combined company, respectively.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ALBIS FLANGES — founded in 1965 — is a petro-chemical approved manufacturer of flanges and fittings in most grades of steel, listed with Sasol,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
