China's Zijin Gold to buy Canadian miner Allied Gold for about $4 billion

[shockedcanadian]

China is going to win.

They can sell into your country but they buy nothing from yours. They can buy your land and houses, you cannot buy in theirs.

Now they are consolidating their control of resources.

Weak Western leaders and greedy corporations have sold out our values to the highest bidder while shipping out our Middle Class...

MSN

www.msn.com

Jan 26 (Reuters) - Zijin Gold has agreed to buy Canada's Allied Gold for about C$5.5 billion ($4.02 billion) in cash, the companies said on Monday, as the Chinese miner ramps up its global expansion against the backdrop of strong bullion price.

Under the deal, Zijin will pay C$44 per share, implying a premium of about 5.4% to Allied stock's last close. U.S.-listed shares of Allied were up nearly 4% in premarket trading.


A sharp rise in gold prices has improved miners' margins and cash flows, fueling consolidation as large producers chase long-life assets and boost output through acquisitions rather than greenfield development.

"The transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the company's share price, crystallizing significant and certain value for its shareholders," said Allied Gold CEO Peter Marrone.

The companies expect the transaction to close by late April 2026.

 

[TheInfiniteSadness]

It's called Capitalism. A bunch of Canadians figured out they could make a lot of money by selling it to someone else. They have three mines in Africa.

 

[shockedcanadian]

It's called Capitalism. A bunch of Canadians figured out they could make a lot of money by selling it to someone else. They have three mines in Africa.

Capitalism works only one way?

We need to cut off the communists. The warnings in the 1950s were accurate and China has exploited the West unlike any other as they took its jobs and wealth, while openly spying, knowing that greed would ensure the downfall of the West;

 

[Invisibleflash]

China is going to win.

They can sell into your country but they buy nothing from yours. They can buy your land and houses, you cannot buy in theirs.

Now they are consolidating their control of resources.

Weak Western leaders and greedy corporations have sold out our values to the highest bidder while shipping out our Middle Class...

MSN

www.msn.com

Jan 26 (Reuters) - Zijin Gold has agreed to buy Canada's Allied Gold for about C$5.5 billion ($4.02 billion) in cash, the companies said on Monday, as the Chinese miner ramps up its global expansion against the backdrop of strong bullion price.

Under the deal, Zijin will pay C$44 per share, implying a premium of about 5.4% to Allied stock's last close. U.S.-listed shares of Allied were up nearly 4% in premarket trading.


A sharp rise in gold prices has improved miners' margins and cash flows, fueling consolidation as large producers chase long-life assets and boost output through acquisitions rather than greenfield development.

"The transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the company's share price, crystallizing significant and certain value for its shareholders," said Allied Gold CEO Peter Marrone.

The companies expect the transaction to close by late April 2026.

Bub, I heard the Canucks sold all their reserve bank gold when prices were low. If true, they don't give a shit about their country.