Vancouver, B.C., Canada (April 4, 2011) – Clearlease.com Reports Shares in Richfield Ventures Corp. soared 25 per cent early Monday morning after New Gold Inc. (TSX:NGD) announced a friendly $550-million takeover deal for the B.C. company and its Blackwater gold project.
New Gold shares fell 33 cents to $10.93 shortly after morning trading opened on the Toronto Stock Exchange, while shares in Richfield (TSXV:RVC) climbed $2.05 to $9.98.
The Blackwater project, 160 kilometres southwest of Prince George, B.C., is projected to contain 1.8 million ounces of gold.
New Gold said it expects to begin production at the mine in about five or six years, and that Richfield’s project is a good fit with its own New Afton project, which is well-advanced towards production.
“This adds a large, advanced stage exploration gold asset into the New Gold portfolio. The project is in British Columbia, in a good location, near infrastructure,” Randall Oliphant, New Gold’s executive chairman said in a conference call with analysts.
Oliphant, a former chief executive of Barrick Gold Corp. (TSX:ABX), has guided New Gold through a number of deals including a $1.2-billion combination with Western Goldfields in 2009 and last year’s flip of a 70 per cent stake in the El Morrow copper-gold project in Chile to Goldcorp Inc. (TSX:G) for US$463 million.
New Gold said Monday that the Blackwater project will be easy to manage because it has good access to roads and skilled local workers who are out of work due to the effects of pine beetle infestation on the forestry industry.
Under the deal, Vancouver-based New Gold will issue 0.9217 of a share, worth about $10.38 based on Friday’s closing price, for each share of Richfield. The sale price is a 31 per cent premium to Friday closing prices.
Upon closing, Quesnel, B.C-based Richfield will own about 10 per cent of New Gold’s equity.
“I think New Gold’s offer is by far the most compelling and clearly advanced, which is why we’ve locked up the New Gold offer,” Peter Bernier, Richfield president and CEO said in the conference call, adding that the company waded through several bids over the past year before finally deciding on a buyer.
The two boards unanimously approved the deal.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing Equipment Lease Financing in Vancouver Surrey Delta Richmond Langley New Westminster North Vancouver West Vancouver Calgary Edmonton Kerrisdale Coquitlam Abbotsford B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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Vancouver, B.C., Canada (April 4, 2011) – Clearlease.com Reports Shares in Richfield Ventures Corp. soared 25 per cent early Monday morning after New Gold Inc. (TSX:NGD) announced a friendly $550-million takeover deal for the B.C. company and its Blackwater gold project.
New Gold shares fell 33 cents to $10.93 shortly after morning trading opened on the Toronto Stock Exchange, while shares in Richfield (TSXV:RVC) climbed $2.05 to $9.98.
The Blackwater project, 160 kilometres southwest of Prince George, B.C., is projected to contain 1.8 million ounces of gold.
New Gold said it expects to begin production at the mine in about five or six years, and that Richfield’s project is a good fit with its own New Afton project, which is well-advanced towards production.
“This adds a large, advanced stage exploration gold asset into the New Gold portfolio. The project is in British Columbia, in a good location, near infrastructure,” Randall Oliphant, New Gold’s executive chairman said in a conference call with analysts.
Oliphant, a former chief executive of Barrick Gold Corp. (TSX:ABX), has guided New Gold through a number of deals including a $1.2-billion combination with Western Goldfields in 2009 and last year’s flip of a 70 per cent stake in the El Morrow copper-gold project in Chile to Goldcorp Inc. (TSX:G) for US$463 million.
New Gold said Monday that the Blackwater project will be easy to manage because it has good access to roads and skilled local workers who are out of work due to the effects of pine beetle infestation on the forestry industry.
Under the deal, Vancouver-based New Gold will issue 0.9217 of a share, worth about $10.38 based on Friday’s closing price, for each share of Richfield. The sale price is a 31 per cent premium to Friday closing prices.
Upon closing, Quesnel, B.C-based Richfield will own about 10 per cent of New Gold’s equity.
“I think New Gold’s offer is by far the most compelling and clearly advanced, which is why we’ve locked up the New Gold offer,” Peter Bernier, Richfield president and CEO said in the conference call, adding that the company waded through several bids over the past year before finally deciding on a buyer.
The two boards unanimously approved the deal.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing Equipment Lease Financing in Vancouver Surrey Delta Richmond Langley New Westminster North Vancouver West Vancouver Calgary Edmonton Kerrisdale Coquitlam Abbotsford B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Vancouver, B.C., Canada (April 4, 2011) – Clearlease.com Reports Shares in Richfield Ventures Corp. soared 25 per cent early Monday morning after New Gold Inc. (TSX:NGD) announced a friendly $550-million takeover deal for the B.C. company and its Blackwater gold project.
New Gold shares fell 33 cents to $10.93 shortly after morning trading opened on the Toronto Stock Exchange, while shares in Richfield (TSXV:RVC) climbed $2.05 to $9.98.
The Blackwater project, 160 kilometres southwest of Prince George, B.C., is projected to contain 1.8 million ounces of gold.
New Gold said it expects to begin production at the mine in about five or six years, and that Richfield’s project is a good fit with its own New Afton project, which is well-advanced towards production.
“This adds a large, advanced stage exploration gold asset into the New Gold portfolio. The project is in British Columbia, in a good location, near infrastructure,” Randall Oliphant, New Gold’s executive chairman said in a conference call with analysts.
Oliphant, a former chief executive of Barrick Gold Corp. (TSX:ABX), has guided New Gold through a number of deals including a $1.2-billion combination with Western Goldfields in 2009 and last year’s flip of a 70 per cent stake in the El Morrow copper-gold project in Chile to Goldcorp Inc. (TSX:G) for US$463 million.
New Gold said Monday that the Blackwater project will be easy to manage because it has good access to roads and skilled local workers who are out of work due to the effects of pine beetle infestation on the forestry industry.
Under the deal, Vancouver-based New Gold will issue 0.9217 of a share, worth about $10.38 based on Friday’s closing price, for each share of Richfield. The sale price is a 31 per cent premium to Friday closing prices.
Upon closing, Quesnel, B.C-based Richfield will own about 10 per cent of New Gold’s equity.
“I think New Gold’s offer is by far the most compelling and clearly advanced, which is why we’ve locked up the New Gold offer,” Peter Bernier, Richfield president and CEO said in the conference call, adding that the company waded through several bids over the past year before finally deciding on a buyer.
The two boards unanimously approved the deal.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing Equipment Lease Financing in Vancouver Surrey Delta Richmond Langley New Westminster North Vancouver West Vancouver Calgary Edmonton Kerrisdale Coquitlam Abbotsford B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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