Canadian-based Premier Gold confirmed in August it is evaluating asset reorganization options, including a spin-out of its U.S. subsidiary that includes its Nevada assets.
Should the spin-out be completed, it will create a stand-alone, U.S.-domiciled, publicly listed outfit that will hold the South Arturo and McCoy-Cove properties. It will also look for additional opportunities for acquisitions.
“A final decision has not been made and there can be no assurance that this evaluation will result in a spin-out or other similar transaction,” officials said.
“We are exploring the attractiveness of creating two companies that would benefit from streamlined property portfolios and a simplified domestic investment thesis,” stated Ewan Downie, president and CEO of Premier.
South Arturo is located in the heart of the Carlin Trend in Nevada and is operated by joint venture partner Nevada Gold Mines, a partnership between Barrick Gold and Newmont Mining. McCoy-Cove has one of the highest-grade undeveloped gold deposits in Nevada.