The precious metals mining firm has offered to acquire the outstanding undiluted common shares of Victoria Gold at a price of $10.92 (C$13.2) per share.

In exchange, Orion Co-VI has received a 4.9% stake in Coeur Mining.

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Coeur Mining president and CEO Mitchell Krebs said: “We have long admired the quality of Victoria’s Eagle asset and its recent success in ramping up operations.

“This compelling opportunity to acquire 17.8% ownership interest in Victoria from Orion is consistent with our stated strategy and capital allocation framework and complements our existing portfolio of precious metals assets in high-quality jurisdictions in North America.

“We are excited to become a shareholder of Victoria, and believe this transaction represents an attractive investment for our stockholders.”

Victoria Gold owns the operational Eagle Gold Mine in Yukon, Canada.

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The project involves a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant.

Concurrently, Coeur has signed an agreement with Orion Co-VI whereby Coeur will acquire at least 50% shares and up to all of Victoria’s properties and assets.

Orion Co-VI currently owns a stake of 36.24% in Victoria Gold.

Coeur Mining currently owns five fully owned operations. The assets in the US include the Kensington gold mine in Alaska, the Rochester silver-gold mine in Nevada, and the Wharf gold mine in South Dakota.

The other two assets are the Palmarejo gold-silver complex in Mexico and the Silvertip silver-zinc-lead mine in British Columbia, Canada.