Lake Shore to acquire Temex.

• Position: Lake Shore Gold - Temex Resources - Brief article

Lake Shore Gold will acquire Temex Resources, following a July 31 announcement.

Under the agreement, Temex shareholders will receive 0.105 of a Lake Shore Gold share for every Temex share, having a value of $0.13 based on the closing price of Lake Shore Gold's shares on the TSX on July 15, 2015.

Temex holds a 60 per cent interest in a joint venture (for which Temex is the operator) with Goldcorp on the Whitney property, located immediately adjacent to Lake Shore Gold's Bell Creek Mine and Mill. Whitney includes the past producing Hallnor, Broulan Reef and Bonetal mines.

The company has issued resource estimates for Whitney that include 0.97 million tonnes at a grade of 7.02 grams per tonne for 218,100 ounces of gold in the Measured category, 2.3 million tonnes at a grade of 6.77 grams per tonne for 490,500 ounces of gold in the Indicated category, and 1.0 million tonnes at a grade of 5.34 grams per tonne...