The pair had announced the takeover in March, with Newmont acquiring the remaining 85.1% of GT's shares for C$3.25 each in a transaction valued at $456 million.

"With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio," president and CEO Tom Palmer said yesterday.

Newmont said Tatogga and primarily its Saddle North deposit had the potential to contribute "future significant gold and copper annual production".

It said Tatogga also held further exploration opportunities.

GT Gold had made the Saddle North and Saddle South discoveries at Tatogga and had been working on a preliminary economic assessment for Saddle North.

The initial resource for Saddle North released in mid-2020 comprised an indicated 1.81 billion pounds of copper, 3.47 million ounces of gold and 7.58Moz of silver, plus an inferred 2.98Blb copper, 5.46Moz gold and 11.64Moz of silver.

"As we pass custody of this world-class property to Newmont, we are sure it is in the best hands," GT Gold executive chair Ashwath Mehra said.

Palmer reiterated Newmont understood and acknowledged that Tahltan Nation consent was necessary for advancing the Tatogga project.

The acquisition adds to Newmont's existing interest in the Golden Triangle, a 50% stake in the Galore Creek project which it had acquired from Novagold Resources in 2018.

Galore Creek is a joint venture with Teck Resources, which has described it as one of the world's largest undeveloped copper-gold-silver deposits.

Newmont shares hit a multi-year high intraday of US$74.24 as the gold price also strengthened.

They closed up 4.59% to $74, valuing the company about $59 million.