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In a brief statement after the stock market closed on Wednesday, Silvercorp said that if Guyana Goldfields terminated the deal, the China-focused miner would receive a $9 million termination fee. Silvercorp Metals signs an amendment agreement with Guyana Goldfields. (Image: Gerd Altmann of Pixabay) Guyana stated that its Board of Directors had „unanimously decided, after consultation with its financial and legal advisors, that the new offer constituted a „higher proposal“ than the Silvercorp Metals agreement of 26 April, which was subsequently amended on 16 May. Under the terms of the new offer, the company`s shareholders would receive $1.85 $US for each common share, which estimates Guyana at approximately $323 million. The new bidder also agreed to provide the company with a $30 million secured credit facility to finance the ongoing operation of the Aurora gold mine and to finance other liquidity requirements for the company (the „new facility“). With the exception of the amount of the new facility, the loan agreement to be entered into between the company and a wholly-owned subsidiary is essentially similar to the loan agreement between the company and Silvercorp on April 26, 2020 (the „Silvercorp Loan Contract“). We look forward to partnering with the Government of Guyana to successfully enter the region and use the existing team and relations of Guyana Goldfield to ensure a smooth transition and continuous development that will benefit all concerned. Silvercorp is a profitable Canadian mining company that produces silver, lead and zinc metals in mine concentrates in China. The company`s goal is to continually achieve healthy returns for shareholders through effective management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employee well-being and sustainable development. At this stage, it is not possible to guarantee that the new offer will lead to the termination of the Silvercorp agreement and the implementation of a final agreement with the new bidder, and the Commission has therefore not changed its recommendation regarding the offer under the Silvercorp agreement.