Eldorado Gold has entered into a definitive agreement with Integra Gold to acquire all of the shares of Integra that it does not currently own in a transaction valued at approximately C$590 million.
Integra’s principal asset is the Lamaque project near Val-d’Or, Quebec. Lamaque hosts an indicated resource of 5.1 million metric tons (mt) at a grade of 9.13 grams per mt (g/mt) gold and an inferred resource of 3.5 million mt at a grade of 7.94 g/mt gold (5 g/mt gold cut-off). A preliminary economic assessment was completed in February that envisions a high-grade underground operation producing 123,000 oz per year (oz/y) of gold at all-in sustaining costs of $634/oz over 10 years. Integra is currently in the process of advancing underground ramp development to facilitate underground exploration and completion of a bulk sample.