A Canadian gold company is searching for a new owner. Gold Mine Inc. is working with an investment bank to find parties interested in inking a deal amid its growing costs and operating issues. It is not averse to a mergers and acquisitions-related deal and is looking at all options including the divestment of certain mines it owns and operates in Canada and the United States. New Gold has struggled to make targets at its main mine in Ontario.
Shares in New Gold stock did jump, however, after the company recently named a new CEO. New Gold stocks were some of the most traded on Bay Street over the last week or so. The mergers and acquisitions of gold mines around the world has dropped this year from 259 in 2017 to 204 at the same point this year.
New Gold is a part of those losses. In the second quarter of this year, it suffered a net loss of more than $300 million. At this time last year, the company saw a net profit of $23 million. With these transparent figures, any potential buyer would be willing to take on the debt and any operational issues at the company's flagship mine in Rainy River, Ontario.
Lawyers in Canada who are experienced in business law may follow mergers and acquisitions deals and so would generally know what is happening in this realm. Canadians who are interested in this facet of business may have more successes in their ventures should they obtain legal counsel. A lawyer will always look out for his or her clients' welfare in any business dealings.