Golden Predator Mines Inc. (TSX:GP) has signed a binding letter of intent to acquire fellow Vancouver company Fury Explorations Ltd. (TSX-V:FUR) in an all-share deal.
The agreement will give Golden Predator ownership of Fury's Nevada-based silver project, which is expected to start production in early 2009. The company currently focuses on gold and tungsten mineral development in the U.S. northwest.
The directors and officers of both companies are expected to enter into lock-up and support agreements in favour of the acquisition.
Golden Predator's share price range during the past week: between $1.85 and $1.90; 52-week high: $2.74; 52-week low: $1.80.