Calibre Mining Corp.’s top shareholder has come out against Equinox Gold Corp.’s $1.8 billion bid for the gold miner, casting uncertainty on the biggest bullion deal so far this year.
Calibre Mining Corp.'s top shareholder, Van Eck Associates Corp., opposes Equinox Gold Corp.'s US$1.8 billion takeover bid, believing it dilutes Calibre's quality and potential. Van Eck, holding 8.69% of Calibre and also being a significant Equinox investor, expects Calibre's stock to rise independently due to its Valentine project. The all-stock deal requires two-thirds shareholder approval from both companies.
