M&A, Financing and Restructuring
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COBALT: First Cobalt extends Iron Creek mineralization by 150 metres
IDAHO – First Cobalt Corp. of Toronto has drilled its deepest hole to date at the Iron Creek cobalt project between Challis and Salmon. The hole reached a depth of 611 metres and confirmed that mineralization in the No Name…
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GOLD: Barrick proposes all-share buyout of Newmont
TORONTO – A subject of speculation last week, the takeover of Newmont Mining by Barrick Gold is now out in the open. That would make Barrick the world’s largest gold producer by far. Barrick is offering an at market exchange…
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SILVER-GOLD: Pan American Silver completes $1B-buyout of Tahoe Resources
VANCOUVER – Canada’s Pan American Silver announced Feb. 22 that it has completed the $1.07-billion buyout of Tahoe Resources by acquiring all of the issued and outstanding shares of the precious metals miner. Pan American expects to produce between 26.5 million and…
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IRON ORE: Black Iron inks MOU with Glencore on Shymanivske project
UKRAINE – Black Iron and Glencore are in talks to finance construction of the junior’s Shymanivske iron ore project and have signed a non-binding memorandum of understanding to begin formal negotiations on the financing and offtake package. The companies envision an investment…
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AUTOMATION: FLSmidth completes IMP buyout
DENMARK – FLSmidth announced this week that it has completed the buyout of Australia’s IMP Automation Group. According to the Danish firm, the decision to acquire IMP arose from the need to have a more complete portfolio of automated laboratory…
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LITHIUM: Lithium Energy Products wants to buy fluorite operation
UTAH – Vancouver-based Lithium Energy Products announced that it entered into a binding letter of intention with American Strategic Minerals to acquire 100% of its assets, including the Lost Sheep fluorite mine in Juab County, Utah. In a press release, LEP…
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ENVIRONMENT: Sandvik acquires supplier of battery electric vehicle solutions
STOCKHOLM – Sandvik has acquired privately owned Artisan Vehicle Systems, manufacturer of battery powered underground mining equipment, based in Camarillo, Calif. The core technology is battery packs, electric motors, power electronics, software and control systems. Artisan’s underground mining loaders and…
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Nordgold boosts equity stake in Columbus Gold
Russian billionaire Alexey Mordashov’s mining company, Nordgold, has increased its stake in Canadian junior Columbus Gold (TSX: CGT; US-OTC) to 9.96% on a non-diluted basis and 11.18% if it were to exercise all of its warrants. The Moscow-headquartered company acquired 4.61 million units…
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GOLD: IDM uncovers new Lacasse zone at Red Mountain
BRITISH COLUMBIA – Vancouver-based IDM Mining reports it has discovered a new zone – Lacasse – at its Red Mountain gold project 15 km east of Stewart. Underground drilling also targeted multiple zones for resource expansion, conversion and further exploration.…
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GOLD: Newmont to pay $10B for Goldcorp, creates world’s leading gold miner
Denver-based Newmont Mining Corp. and Goldcorp of Vancouver announced plans on Jan. 14 to merge, creating the world’s leading gold producer. When the US$10 billion (all figures U.S. dollars) deal closes, a new company, Newmont Goldcorp, will be created. Newmont…
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GOLD: Ascot enters definitive agreement to acquire IDM Mining
VANCOUVER – Ascot Resources announced this week that it has entered into a definitive arrangement to acquire all of the issued and outstanding common shares of IDM Mining. In a press release, Ascot said that the goal behind the proposed acquisition is to…
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SILVER-GOLD: Vancouver miners merge to lead exploration
MEXICO – Defiance Silver Corp. and ValOro Resources have just created a combined company that keeps the name Defiance Silver Corp., following a friendly merger under the Business Corporations Act of British Columbia. In a media statement, the Vancouver-based miners describe…
