December 24, 2021
Fiore Gold Ltd. (TSXV:F, BUY, C$2.50 target, Timothy Lee) announced that a second independent, third-party proxy advisory firm, Glass Lewis & Co. LLC, has recommended that Fiore shareholders vote for the proposed acquisition by Calibre Mining Corp. (TSX:CXB, Not Rated) at the upcoming special meeting of shareholders to be held on January 5, 2022. This follows the recommendation for the proposed acquisition by Institutional Shareholder Services (read more). Glass Lewis believes the combined entity would create a larger and more diversified mid-tier gold company with a broader portfolio of assets, including the production and exploration stage assets in Nevada and Nicaragua. Furthermore, we believe this is a positive deal for Fiore’s shareholders, not only as it gives a premium to the market price, but also as it may reduce operational risks associated with having only a single producing asset. For more information on the proposed benefits of the transaction, please see our recent notable. Moving forward, Fiore will continue to produce Au at its Pan mine in Nevada while also working toward the completion of a Feasibility Study for the Gold Rock project, anticipated in Q4/22. Read more
