Page 50 By Frank Giorno Newmont Mining and Goldcorp have agr eed to combine their oper ations and form the world s largest gold mining company Under the terms of the agreement valued at 10 billion Newmont will exchange 0328 of a share and two cents in cash for each of Goldcorp s outstanding common shares The new company will be known as Newmont Goldcorp with Newmont shareholders having a 65 control ling interest and Goldcorp sharehold ers the remaining 35 This combination will create the world s leading gold business with Newmont Goldcorp combine to form the worlds largest gold mining company the best assets people prospects and valuecreation opportunities said Gary Goldber g Newmont s Chief Ex ecutive Ofcer Goldcorp s President and Chief Ex ecutive Ofcer David Garofalo said In addition to the depth and quality of Newmont Goldcorp s operations projects exploration properties and Reserves the combined company s assets will be centered in the world s most favorable and prospective min ing jurisdictions and gold districts V ancouver will serve as the North American operations head ofce and oversea mining operations in Canada the US Mexico and Central America The corporate head ofce will be based in Denver Colorado The Chairperson of Newmont Gold corp will be Noreen Doyle with Ian T elfer to serve as Deputy Chairper son Gary Goldber g will serve as the CEO and T om Palmer President and COO Globally Newmont Goldcorp has the capacity to produce 6 to 7 million ounces of gold per year The NewmontGoldcorp combina tion follows the mer ger of Barrick Gold and Rangold Many experts like Bloomber g News mining reporter Thomas Biesheuvel believe that the NewmontGoldcorp deal was a re sponse to the Barrick GoldRangold mer ger Biesheuvel believes other mer gers are like as the gold mining sectors restructures in the hopes of attracting more investment interest V ictoria Gold Mines East T immins Ltd s Golden Ar row Mine Property is located 10 km south of Mathe son Ontario within the shadow of gold producers such as McEwen Mining and Kirkland Lake Gold who boast operatio ns situated along the prolifc Destor Porcupine Deformation Zone V ictoria completed its 100000 tonne bulk sample advanced exploration pro gram during 2018 6780 ounces gold recovered and has recently secured both a production mining permit and environmental closure plan acceptance from the Ontario Ministry of Ener gy Northern Development and Mines enabling the processing of 219000 tonnes of ore per year moving forward V ictoria s sizeable Golden Arrow Property is located adjacent to Provincial Highway 1 1 with excellent in frastructure and a local experienced work force W ith the currently tar geted Phase II inground sy enite hosted gold resource of 861797 tonnes grading 18 grams per tonne gold 50000 ounces contained gold presently being prepared for commercial open pit production mining V ictor ia could be the next new gold producer in Northeastern Ontario V ictoria s continued exploration eforts will focus on infll dia mond drilling of its Phase III expanded open pit inferred re source of 5784268 tonnes grading 117 grams per tonne gold 200000 ounces contained gold V ictoria s advanced explorati on bulk sample ore material sur passed metallur gical and environmental regulatory guidelines and local custom milling eforts saw 92 ore recovery V icto ria Gold Mines East T immins Ltd s Golden Arrow Mine is Ontario s only privatelyowne d permitted gold mine and with a clean road ahead V ictoria is positioned to grow during 2019 V ictoria G old M ines newly permitted privately owned GOLD MINE T immins East