The joint venture of Fresnillo and Newmont, who are the largest producers of gold in the U. S., has put up an offer to buy the Canplats Resource Corp. for a whopper amount of about $240 million and they successfully ended up thumping the offer from Goldcorp Inc., which is based in Canada.

It has been reported that the stockholders are to receive about C$4.20 in cash for every share they hold and it is an interesting fact that the shareholders will also receive a share in the new exploration company that is worth C$0.20. This offer was valued at about 40 per cent more than the closing price of Canplats, and the proposal was put forward by Fresnillo, which is the world's largest producer of primary silver.

It has also been reported that this bid in which Newmont owns about 44 per cent and the rest is owned by Fresnillo, which is basically based in Mexico City, had been put forward a month after Goldcorp placed their bid for about C$238 million. It is also expected that Goldcorp may be paid about C$7.2 million for their agreement to be terminated.