We are pleased to announce that MPA Morrison Park Advisors – IMAP Canada – acted as exclusive financial advisor to Revival Gold Inc. (“Revival”) on the C$62 million business combination with Ensign Minerals Inc. (“Ensign”).
Revival is a growth-focused gold exploration and development company and is advancing the Beartrack-Arnett Gold Project located in Idaho, USA. Beartrack-Arnett is the largest past-producing gold mine in Idaho and benefits from extensive existing infrastructure.
Ensign is a private company and focused on exploring for precious metals within the Mercur district, Utah, USA. Ensign controls ~6,255 hectares in the district. Ensign’s property holdings include the Mercur Project which produced more than 2.6 million ounces of gold in the past. The Mercur Project also benefits from existing infrastructure such as paved road and powerline.
“With the addition of Mercur, we expect to shorten our estimated timeline to heap leach gold production while increasing the potential production scale of Revival Gold’s heap leach gold business to approximately 150,000 ounces per year. The combined Mineral Resource will vault Revival Gold ahead to become one of the largest, pure gold, development companies in the United States”, said Revival Gold President & CEO, Hugh Agro.
The MPA team, comprised of Steve Altmann, Julian Storz and Dalton Austin, acted as exclusive financial advisor to Revival through all phases up to the successful closing. This transaction is complementary for Revival and Ensign and represents MPA’s excellent capability to identify and assess these types of opportunities for its clients.