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Monday, February 9, 2015

Tahoe Resources to purchase Rio Alto Mining for $1.12 bln, (TSE: G.TO), (NYSE: GG), (NYSE: TAHO), (TSE: THO.TO)

Canadian gold miner Tahoe Resources Inc said on Monday it has agreed to acquire smaller rival Rio Alto Mining in a cash-and-share deal valued at C$1.4 billion ($1.12 billion), in a bid to expand its presence in Latin America.The deal is the latest sign that precious metal miners, who went through an extended quiet phase amid a sharp decline in the price of bullion, are slowly coming to grips with new market realities and beginning to focus on long-term growth once again.Last month, Canadian gold miner Goldcorp Inc agreed to purchase Probe Mines Ltd in an all-stock deal that valued the metals exploration company at C$526 million, in a bid to win control of the Borden Gold project in Ontario.Tahoe said its offer values Rio Alto at C$4 a share, a 22.1 percent premium to Rio Alto's closing price of C$3.28 a share on Friday on the Toronto Stock Exchange.

Shares of G traded higher by 1.82% or $0.52/share to $29.16. In the past year, the shares have traded as low as $19.18 and as high as $32.46. On average, 3456410 shares of G.TO exchange hands on a given day and today's volume is recorded at 537439.

Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of GG traded higher by 2.4% or $0.55/share to $23.44. In the past year, the shares have traded as low as $17.01 and as high as $29.65. On average, 10568200 shares of GG exchange hands on a given day and today's volume is recorded at 1310972.

Tahoe Resources Inc. operates Escobal mine. The Company owns 100 % interest in Escobal project located in southeastern Guatemalan, approximately 70 kilometer from Guatemala City, near the municipality of San Rafael las Flores. Shares of TAHO fell by 7.16% or $-1.01/share to $13.10. In the past year, the shares have traded as low as $11.33 and as high as $27.55. On average, 212361 shares of TAHO exchange hands on a given day and today's volume is recorded at 105601.

Tahoe Resources Inc. operates Escobal mine. The Company owns 100 % interest in Escobal project located in southeastern Guatemalan, approximately 70 kilometer from Guatemala City, near the municipality of San Rafael las Flores. Shares of THO fell by 7.65% or $-1.35/share to $16.29. In the past year, the shares have traded as low as $13.19 and as high as $30.15. On average, 365352 shares of THO.TO exchange hands on a given day and today's volume is recorded at 175894.



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