Canadian gold miner Tahoe Resources Inc said on Monday it has agreed to acquire smaller rival Rio Alto Mining Ltd in a cash and share deal, in a bid to expand its presence in Latin America and create a larger precious metals miner. 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.
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 4.53% or $-0.67/share to $14.11. 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 116096.
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 3.82% or $-0.7/share to $17.64. 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 195844.
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