XAU Resources to Acquire Guyana Quartzstone Gold Project in C$70m Deal

The acquisition adds to the wave of Canadian mining interest in Guyana, though the transaction remains subject to regulatory approval and shareholder consent.

By Handelsavisen Newsroom · Automated 2026-07-27 06:32 UTC · 1 min read

Canadian junior miner XAU Resources Inc. has entered into a letter of intent to acquire QS Holdings Inc., the Barbados-based entity controlling the Quartzstone Gold Project in Guyana.

The proposed transaction values the deal at approximately C$70 million, marking a significant consolidation move in the region's junior mining sector.

XAU Resources cautioned that there is no assurance the acquisition will be completed, highlighting the preliminary nature of the current agreement.

The agreement is structured as a share-for-share exchange, with QS Holdings shareholders receiving 0.15 XAU Resources shares for each QS Holdings share held.

The deal is contingent on several key approvals, including regulatory clearance from the Canadian Securities Exchange (CSE) and shareholder consent from both parties.

XAU Resources cautioned that there is no assurance the acquisition will be completed, highlighting the preliminary nature of the current agreement.

This move underscores the growing appetite among Canadian mining firms for Guyana's emerging gold assets.