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Orla Mining has successfully completed its acquisition of Gold Standard Ventures, marking a significant step towards becoming a low-cost, mid-tier gold producer. Shareholders of Gold Standard received 0.1193 common shares of Orla and a nominal cash amount. Following the acquisition, Gold Standard shares will be delisted from the TSX and NYSE American. Orla will focus on integrating Gold Standard's South Railroad project, which is currently in the feasibility stage, and has additional plans for the Lewis project in Nevada, aiming to enhance its growth strategy.
Gold Standard Ventures Corp. (GSV) announced that its securityholders approved the acquisition by Orla Mining Ltd. (OLA) via a plan of arrangement at a special meeting. The resolution received overwhelming support, with 98.08% of votes cast in favor by shareholders. Under the arrangement, shareholders will receive 0.1193 Orla shares and C$0.0001 cash for each GSV share held. The transaction is still subject to approval from the Supreme Court of British Columbia, with the court hearing scheduled for August 11, 2022. Closing is expected around August 12, 2022.
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) is urging security holders to vote in favor of its acquisition by Orla Mining Ltd. before the special meeting on August 9, 2022. The deadline for votes is 8:30 a.m. Pacific Time on August 5, 2022. Both ISS and Glass Lewis, prominent proxy advisory firms, support the acquisition, and Gold Standard’s Board of Directors unanimously recommends voting in favor. The Company is focused on developing the South Railroad Project in Nevada, a significant gold project within a 21,000 hectare land area.
Gold Standard Ventures Corp. (GSV) announced the mailing of its management information circular and related materials for a special meeting scheduled on August 9, 2022. The meeting will involve a proposed business combination with Orla Mining Ltd., initially announced on June 13, 2022. The resolution requires the approval of 66⅔% of votes from security holders. An interim order from the Supreme Court of British Columbia has been obtained to authorize the meeting. The transaction, pending regulatory and court approvals, is anticipated to close in mid-August 2022.
Orla Mining Ltd. has entered into a definitive agreement to acquire Gold Standard Ventures Corp. in a court-approved plan of arrangement. The transaction values Gold Standard at C$242 million, offering a 35% premium per share. The acquisition focuses on the South Railroad Project, a feasible open-pit heap leach project in Nevada. Orla anticipates expanded production capabilities, projecting annual gold production of 500,000 ounces while avoiding equity dilution. Following the deal, Orla's proven reserves will increase to 3.8 million ounces of gold.
Gold Standard Ventures Corp. (GSV) announced the results of its Annual General Meeting held on June 8, 2022. A total of 352,116,177 votes were eligible, with 188,114,654 votes cast, representing a turnout of 53.42%. All director nominees listed in the Management Information Circular were successfully elected. The company also approved the appointment of its auditors. The election results highlighted strong support for the board, with votes for directors mostly exceeding 98% approval.
Gold Standard Ventures (GSV) announced its 2022 exploration program in Nevada's Carlin Trend, covering over 21,000 hectares.
The program includes 5,700 meters of drilling across 20 holes, starting in May 2022. Goals include enhancing the Pinion pit size, exploring the LT target for potential satellite development, and revisiting the North Bullion deposit for sulphide gold mineralization.
Drilling will focus on both oxide and sulphide mineralization, with results anticipated to influence future exploration stages.
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) has released its audited financial results for the year ended December 31, 2021, reporting a net loss of $11.0 million, slightly higher than the previous year's loss of $10.7 million. The company highlighted significant advancements, including a Feasibility Study for the South Railroad Project, demonstrating a 10.5-year operating life with an after-tax NPV5 of $315 million at a $1,650 gold price. Gold Standard aims to become Nevada's leading low-cost producer with ongoing exploration programs.
Gold Standard Ventures Corp. (GSV) has filed a technical report for its South Railroad Project in Elko, Nevada. The report, adhering to National Instrument 43-101 standards, follows a Feasibility Study showing low capital intensity and strong returns. Key highlights include an initial capital cost of $190 million, an after-tax internal rate of return (IRR) of 62% at current gold prices, and a net present value (NPV5) of $487 million. The project boasts a mineral reserve increase of 29% to 1.60 million gold ounces and a projected operating life of over 10 years.
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) announced that Larry Radford will resign as Chief Operating Officer effective March 21, 2022, to become the CEO of Argonaut Gold. Jeff Fuerstenau will take over operational duties in Nevada, while Mark Laffoon will handle project planning. The company's South Railroad Project is positioned as a leading undeveloped gold project in Nevada, aiming to establish itself as a low-cost junior producer. Both Fuerstenau and Laffoon bring decades of mining experience, enhancing the company's management capabilities.
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