Canadian Mining Journal

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BUSINESS COMBINATIONS: Half dozen deals announced last week

Creston Moly Corp. and Tenajon Resources, both headquartered in Vancouver, are planning a business combination to c...


Creston Moly Corp. and Tenajon Resources, both headquartered in Vancouver, are planning a business combination to create a leading molybdenum development company. The new business will hold 100% interests in the Creston, Ajax and Moly Brook deposits. Tenajon shareholders will receive 0.84 share of Creston for each of their Tenajon shares. A presentation of the business combination is available for viewing at www.CrestonMoly.com and www.Tenajon.com.

 

North American Palladium (NAP) of Toronto has completed the acquisition of Cadiscor Resources in an all-share deal. Cadiscor shareholders received 0.33 common share of NAP for each common share of Cadiscor. This deal brings the former Sleeping Giant gold mine in Quebec into the NAP fold. Please visit www.NAPalladium.com for more information.

 

A business combination between Rimfire Minerals and Geoinformatics Exploration, both of Vancouver, is in the works. Geoinformatics plans to acquire all of the outstanding shares of Rimfire at an agreed exchange ratio of 2.6 Geoinformatics shares per Rimfire share. The combined company will be led by the current Rimfire management team. (www.Geoinformex.com)

 

Vancouver-based Silver Wheaton has completed the acquisition of Silverstone Resources, making Silverstone a wholly owned subsidiary of Silver Wheaton. Silverstone shareholders will receive 0.185 share of Silver Wheaton for every Silverstone share held. Silverstone’s primary assets are silver stream agreements with Capstone Mining and Lundin Mining. (www.SilverWheaton.com)

 

Shareholders of Mega Silver and Skybridge Development have approved the combination of their companies. Skybridge will be amalgamated with a wholly owned subsidiary of Mega. Shareholders of Skybridge will be entitled to receive 1.0 common share of Mega in exchange for 2.5 common shares of Skybridge held immediately prior to the amalgamation. (www.MegaSilver.ca)

 

Canadian Arrow Mines of Sudbury, ON, and Ursa Major Minerals of Toronto have signed an letter of intent for a combination of the business that will create a larger nickel-focussed exploration and development enterprise. If the deal goes through, the combined company will have 43-101 reserves and resources in excess of 200 million lb of contained nickel with significant copper and precious metal byproduct credits. See either www.CanadianArrowMines.ca or www.UrsaMajorMinerals.com.

 

 

Hochschild Mining of London, UK, has completed the acquisition of Vancouver-headquartered Southwestern Resources in a deal worth C$22.5 million. Southwestern has gold projects in Peru, and Hochschild held varying interests in several of them. Now Hochschild has achieved 100% ownership of the Liam property, an 80% interest in the Pacapausa property, and increased ownership of the Millo project (a 30% joint venture with Yamana) adjacent to Hochschild’s wholly owned Azuca project. (www.HochschildMining.com or www.SWGold.com.)


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