Contango to acquire HighGold Mining
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 02 2024
0mins
Source: SeekingAlpha
- Acquisition Deal: Contango ORE (NYSE:CTGO) is set to acquire all shares of HighGold Mining (OTCQX:HGMIF) through a court-approved plan of arrangement, creating a North American gold producer with Alaskan deposits.
- Terms of Agreement: Each HighGold share will be exchanged for 0.019 shares of Contango common stock, valuing HighGold at approximately C$0.55 per share and a total equity value of around $37 million.
- Ownership Structure: After the acquisition, existing Contango shareholders will own about 85% of the combined company, with HighGold shareholders holding the remaining stake.
- Additional Information: The deal involves financial details, historical earnings data, and Seeking Alpha's Quant Rating on Contango Ore, providing insights into the companies involved.
- Source: The information was sourced from a press release and includes details on Contango Ore, HighGold Mining, and their financial standings.
Analyst Views on CA
Wall Street analysts forecast CA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CA is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
