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9/14/16

Orla and Pershimco (UPDATED)

What, you thought I was joking?

You heard it here first. Let's see now...

 July 12th: "Orla Mining (OLA.v) is looking at Pershimco Resources (PRO.v)"

August 12th: "Pershimco (PRO.v) now close to the Orla deal"

September 7th:  "Orla and Pershimco update", my personal fave.

And today September 14th, this from the company:

Vancouver and Rouyn-Noranda - September 14, 2016 - Orla Mining Ltd. ("Orla")(TSX-V:OLA) and Pershimco Resources Inc. ("Pershimco")(TSX-V:PRO; FSE: BIZ) today are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") to combine their respective businesses, creating a new, growth-oriented gold company in the Americas (the "Transaction"). The new company ("NewCo"), which will continue to operate under the name "Orla Mining Ltd.", will focus on continued exploration and development of Pershimco's Cerro Quema project located in Panama, and will seek further etc etc here

IKN Kung Fu is strong.

UPDATE: In general terms this deal values Pershimco as stands today at $113m, around $33m higher than  tonight's close. There may be some slippage on that come the open as it's an all-paper deal, but it puts PRO.v very close to the mooted 45c selling price IKN mentioned in August. Just so you know.