Newrange Gold (NRGOF) – Shareholders Approve Merger with Mithril; Not Yet a Done Deal

Natural Resources
0 min read

Monday, October 30, 2023

Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at .

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Transaction wins shareholder approval. In May,Newrange executed a binding Scheme Implementation Deed (SID) to acquire 100% of Mithril Resources Limited (ASX: MTH) in a reverse takeover (RTO). Pending approval by the TSX Venture Exchange, the resulting company will be named Pinnacle Silver & Gold Corp. and will be listed on the TSX Venture exchange under the symbol “PINN.” During their respective special meetings, Newrange and Mithril shareholders approved the merger between Newrange and Mithril to form Pinnacle Silver & Gold Corporation. Assuming that all requirements are satisfied, the transaction is expected to close in mid-November.

Key conditions remain. Although both sets of shareholders have approved the transaction, several requirements remain outstanding. These include: 1) the Federal Court of Australia must approve the transaction at a hearing scheduled for November 6, 2) an Independent Expert must affirm that in the absence of a superior offer, the share and option schemes are in the best interests of Mithril shareholders and option holders, 3) completion of Newrange Gold’s concurrent financing, 4) Newrange Gold receiving unconditional approval to re-list on the TSX Venture Exchange, and 5) satisfaction or waiver of any remaining conditions prior to the Court Hearing.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 


Inbox Intel from Channelchek.

Informed investors make more money. And it’s all about timing. Get it when it happens.

By clicking submit you are agreeing to the Terms of Use and Privacy Policy
© 2018-2024 Noble Financial Group, Inc. All Rights Reserved. Channelchek is provided at no cost to be used for information purposes only and not as investment advisement.