Discovery Announces Acquisition of Glencore’s Kidd Operations
View original at finance.yahoo.comDiscovery Announces Acquisition of Glencore’s Kidd Operations Discovery Silver Corp…
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Discovery plans to deploy drills at Kidd Creek Mine and surrounding properties with substantial exploration upside to identify new mineral resources that could support future mining operations
80% confidenceDiscovery will continue with the current operating plan for both the Kidd Met Site and Kidd Creek Mine upon closing
80% confidenceDiscovery's investment could result in doubling production in Timmins while creating jobs for Canadians
80% confidenceThe Company intends to construct one, and possibly two, gold circuits at the Kidd Met Site to support future growth in gold production at Porcupine
80% confidenceHaulage costs will be reduced significantly given that Hoyle Pond and Pamour are approximately one kilometre and three kilometres from the Kidd Met Site, respectively
80% confidenceThis acquisition reaffirms Ontario as a reliable partner building confidence to invest and expand mines in the province
80% confidenceAcquiring the Kidd Operations provides an opportunity to substantially increase processing and tailings capacity and supports a growth trajectory that could more than double gold production in Timmins to over half a million ounces per year
80% confidenceDiscovery anticipates closing of the Transaction during the first half of 2026
80% confidenceThe Acquisition provides important synergies that will augment current operations and delivers a large land package with tremendous exploration upside potential for copper, zinc, silver, other critical minerals and gold
80% confidenceThe Kidd Met Site would have been closed this year but with renewed confidence will be taken to the next level
80% confidenceThere is an opportunity to reduce reclamation costs at both Porcupine and Kidd by using Porcupine waste rock and gold tailings for Kidd tailings management
80% confidence