M&A, Financing and Restructuring
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TAKEOVER: SLR Consulting acquires RPA Inc
SLR Consulting, a global leader in environmental and advisory solutions, has acquired RPA Inc., a 60-person, world-leading mining advisory business with teams in North America – Toronto, Denver, Quebec City – and London, U.K. The RPA team includes geological, mining…
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DIAMONDS: Stornoway granted creditor protection
QUEBEC – Stornoway Diamond Corp. of Montreal has been granted protection under the Companies’ Creditors Arrangement Act from the Superior Court of Quebec while the company restructures its business and financial affairs. Protection is extended to subsidiaries Stornoway Diamonds (Canada),…
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GOLD: Marathon Gold secures $20M bought deal for Valentine exploration
NEWFOUNDLAND – Toronto-based Marathon Gold Corp. has raised $20 million through a bought deal private placement. The proceeds will be used for exploration and development at the Valentine Lake gold project. Marathon will issue 2.7 million flow-through units at $1.85…
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OUTLOOK: Valuation gaps create M&A necessities, says advisor
AUSTRALIA – The principal of corporate advisory firm PCF Capital, Liam Twigger, said this week that the global equities pool for mining has divided into a two-speed market where survival will now depend on getting bigger through acquisition as the…
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GOLD: Rubicon PEA outlines potential Phoenix revival
ONTARIO — Several years after Rubicon Minerals was forced to shut down trial mining at its Phoenix gold mine in Red Lake, Ont., when it realized its geological model was faulty, the company has released a new preliminary economic…
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COPPER-GOLD: Newcrest takes over at Red Chris JV
Imperial Metals’ sale of a 70% interest in the Red Chris copper-gold mine in B.C. has officially closed, with Australia’s Newcrest Mining now the operator of the asset. Newcrest paid US$804 million for its majority interest. The deal was first…
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GOLD: TMAC raises US$40M with royalty deal
TORONTO — In return for a cash payment of US$40 million, gold miner TMAC Resources has sold a 1.5% NSR royalty to Maverix Metals. Maverix already holds a 1% NSR royalty on TMAC’s Hope Bay gold mine in Nunavut. TMAC’s…
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GOLD: Eastmain options high-grade project to Benz Mining
Eastmain Resources has optioned one of its three gold projects in Quebec’s James Bay region to junior Benz Mining. The past-producing Eastmain project has indicated resources of 899,000 tonnes grading 8.19 g/t gold, 0.13% copper and 8 g/t silver. Inferred…
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GOLD: Pure Gold lands US$90M for Madsen construction
ONTARIO — Six months after delivering a positive feasibility study for its Madsen gold project in Red Lake, Ont., Pure Gold Mining has landed a US$90-million financing to bring it into production. The junior is targeting the end of 2020…
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GOLD: Kinross makes US$283M acquisition in Russia
Toronto-based Kinross Gold is expanding its portfolio in Russia with the acquisition of a large, open pit development project in the country’s Far East region. The company is paying US$283 million for the Chulbatkan project to N-Mining, $113 million in…
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COPPER: CITIC pledges $612M to Ivanhoe for Kamoa-Kakula
DEMOCRATIC REPUBLIC OF CONGO – CITIC Metal Africa, a subsidiary of China’s state-owned CITIC Metal Co., has made a $612-million investment in Ivanhoe Mines. The funding news comes shortly after the company announced it will fast track the Kamoa-Kakula copper…
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GOLD-COPPER: Seabridge secures $17M private placement
TORONTO – Seabridge Gold has secured a $17-million private placement from a single purchaser. The purchaser took up 1.0 million shares at a price of $17.02 per share. The purchaser has also been granted an option to increase the placement…
