Fresnillo signs agreement to acquire Probe Gold for $558m

Fresnillo has signed a definitive agreement to acquire all issued and outstanding common shares of Probe Gold for approximately C$780m ($558.51m). 

The transaction, executed through a statutory plan of arrangement under the Business Corporations Act (Ontario), will enable Fresnillo to expand its global precious metals portfolio beyond its core operations in Mexico. Probe shareholders will receive C$3.65 in cash for each share they own. 

This offer reflects a 39% premium over Probe’s closing share price on the Toronto Stock Exchange (TSX) as of 30 October 2025, and a 26% premium over the volume-weighted average price of Probe shares on the TSX for the 20 trading days ending 30 October 2025. The Board of Directors of Probe has unanimously recommended that the shareholders vote in favour of the transaction.  

All directors and officers of Probe, together with Eldorado Gold, collectively holding around 12% of Probe’s shares, have entered voting support agreements with Fresnillo.