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M&A / Property

Hemlo Mining Corp. (HMMC) Opens the Market

By The Northwire Desk — AI Analysis Dec 02, 2025 · 10:30 HMMC · None Hemlo Mining Corp.
HMMC · Price

Executive Summary

  • Hemlo Mining Corp. completed its acquisition of the Hemlo Gold Mine from Barrick Mining Corp., with total consideration up to approximately US $1.1 billion.
  • The transaction brings an asset that has produced ~25 million ounces of gold since 1985 into Hemlo’s portfolio, positioning the company as a mid‑tier Canadian gold producer.
  • Simultaneously, Hemlo celebrated its new listing on the TSX Venture Exchange, with senior executives and TSXV leadership ringing the opening bell.

Key Details

  • Acquisition: Closed purchase of the Hemlo Gold Mine (Ontario) from Barrick Mining Corp.; aggregate consideration up to ~US $1.1 bn.
  • Asset Profile: Hemlo Gold Mine has produced roughly 25 million ounces of gold from underground and open‑pit operations since 1985; located ~35 km east of Marathon, Ontario.
  • Strategic Intent: Company aims to maximize existing infrastructure value via a “fit‑for‑purpose” operating model and pursue aggressive brownfield exploration to drive growth.
  • Leadership Team: President & CEO Jason Kosec together with executives Jonathan Awde, Robert Quartermain, Audra Walsh, Glenn Kumoi, Jon Case, Eric Tremblay, and Raphael Dutaut.
  • TSX‑Venture Listing: Hemlo’s market debut on the TSX Venture Exchange was marked by a bell‑ringing ceremony featuring Jason Kosec and TSXV President Tim Babcock.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

More from Hemlo Mining Corp.

Nov 09, 2026 · 17:37

Hemlo’s high AISC of $2,660/oz and missing 2026 guidance stall the ramp-up story.

Earnings Oct 21, 2026 · 06:30

Hemlo reported flat third-quarter output with a delayed ramp-up and no cost guidance provided for 2026.

Other Sep 22, 2026 · 06:30

Hemlo Mining refines its porphyry model to unlock district-scale potential across its 45,000-hectare land package.

Drill Results Sep 14, 2026 · 16:05

A substation outage interrupted Alimak ramp-up at Hemlo, while the rest of the operation continued milling.

Production / Operations Sep 10, 2026 · 06:30

Hemlo reported high-grade near-mine intercepts including one-metre intervals with significant gold grades, highlighting the potential of its Hemlo deposit.

Drill Results Aug 11, 2026 · 18:18

Hemlo’s Q2 AISC surges 42% quarter-over-quarter to $2,561 per ounce, with transition costs eroding cash flow despite high gold prices.

Earnings