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Once the merger is completed, Core Gold and Titan shareholders will
each hold approximately 48.5% and 38.9% of the combined company,
respectively, with the new shareholders subscribing for Titan Shares
under the placement holding approximately 12.6% of the combined
company, based on a minimum raise of A$20 million.
The Portovelo Mill and Processing Plant, which processes all ore
mined from Dynasty with one of its two ball mills, is also in Ecuador
and has a nameplate capacity of 2,000 tpd.
Around the same area, Core Gold also owns the high-grade Linderos
gold project and the early-stage gold-copper exploration Duke project.
In southern Peru, on the other hand, Core Gold owns the Vista gold
plant, a conventional crush, mill, leach, Carbon-in-Pulp circuit, which
is currently undergoing commissioning. Once commissioned and the
operating licence is granted, the plant will have a nameplate capacity
of 150 tonnes per day.
Also in the Andean country, the miner owns the Las Antas gold
project which, according to management, hosts significant exploration
potential for stand-alone, bulk tonnage, disseminated style gold
mineralization.
“The project also provides Titan with a key foothold into a broader
district that contains multiple high-grade gold-silver veins. The recent
Titan acquisition within the prolific epithermal gold belt of Southern
Peru is an important step towards the development of a substantial
land position in the region,” the media brief reads.