Perihelion Global announced Wednesday that it has reached an agreement to acquire privately held Saturday Night, sole owner of a gold and silver mine in Box Elder County.
There have been three certified geologist valuations of the gold reserves, which determined a minimum of 1,277,950 ounces of gold at the mine, according to a statement released by Perihelion. The valuations were conducted in 1983, 2000 and 2006.
The terms of the acquisition are cash and a 12 percent total stake in Perihelion Global, the company said. The proposed acquisition is expected to be finalized within 30 days, and private funds will be used for the cash portion of the deal — the cash amount was not disclosed — as well as any additional financing that might be required. Perihelion is based in Santa Rosa Beach, Fla.