M&A, Financing and Restructuring
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COMMENT: Acacia takeover by merged Barrick an option
UNITED KINGDOM – The buyout of Acacia Mining’s minority shareholders by the new, larger Barrick Gold is one option, said Mark Bristow, CEO of Randgold Resources. Toronto-based Barrick, which owns about 64% of Acacia, and Randgold are merging in a…
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Caledonia buys back 15% interest in Blanket gold mine
ZIMBABWE – Caledonia Mining has agreed to buy back Fremiro Investments’ 15% shareholding in the Blanket gold mine in Zimbabwe in a deal valued at US$16.6 million. After completing the transaction, Caledonia will own 64% of Blanket. Under the terms of the…
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SUPPLIERS: Epiroc Drilling Solutions invests in autonomous mining solutions business
Garland, Texas – Epiroc Drilling Solutions, LLC., a leading productivity partner for the mining, infrastructure and natural resources industries, has acquired part of ASI Mining, LLC, a U.S.-based company that provides technology solutions for the autonomous operation of mining vehicles.…
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SUPPLIERS: STRACON Acquires Canadian Underground Mining Contractor Dumas Holdings
Toronto – STRACON S.A., a majority owned subsidiary of Ashmore Group, announced that it acquired, through its wholly owned subsidiary STRACON International S.A.C., a 60% controlling interest in Dumas Holdings Inc.. Dumas is a leading, full-service, underground mining contractor, focused…
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MERGER: Glass Lewis likes Barrick-Randgold combo
TORONTO – A second independent proxy advisory firm, Glass Lewis, has recommended that shareholders of Barrick Gold and Randgold Resources for the proposed merger of the two companies. The recommendation from Glass Lewis comes in addition to an earlier report…
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DRILLING: Epiroc to acquire Canadian exploration tool maker
STOCKHOLM – Epiroc, a leading productivity partner for the mining, infrastructure and natural resources industries, has agreed to acquire Fordia Group, a Canadian manufacturer of exploration drilling tools. Fordia Group is based in Montreal and has sales in more than…
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ZINC-LEAD: Bunker Hill defaults on payments and terminates lease at flagship project
Bunker Hill Mining (CSE: BNKR; US-OTC: BHLL) terminated its lease and option agreement to acquire the Bunker Hill zinc-lead-silver mine in Idaho after missing US$400,000 in property payments that were due at the end of September and on Oct. 1, 2018.…
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GOLD: Pretium refinances Brucejack construction loan
BRITISH COLUMBIA – Based in Vancouver, Pretium Resources has refinance the construction credit facility used to build the Brucejack gold mine 65 km north of Stewart. The company has a commitment letter from the Bank of Nova Scotia, Societe Generale,…
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FUNDING: ArcelorMittal supports R&D at McGill University
MONTREAL – ArcelorMittal Mining Canada and ArcelorMittal Mining R&D have agreed to support program development and environmental research projects at McGill University‘s Department of Mining and Materials Engineering. The world’s largest iron and steel producer has agreed to provide $360,000…
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GOLD: Barrick to buy Randgold creating $18B company
TORONTO – Barrick Gold has made an all-share offer worth US$6 billion for Randgold Resources. The merger, subject to the approval of both companies’ shareholders, will create an industry leading gold miner with a combined market cap of US$18 billion.…
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Osisko bumps Cariboo royalty to 4%
Osisko Gold Royalties (TSX: OR; NYSE: OR) has agreed to acquire an additional 1.75% net smelter return royalty (NSR) for $20 million on the Barkerville Gold Mines’ (TSXV: BGM; US-OTC: BGMZF) Cariboo gold project in British Columbia, raising its total royalty on…
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GOLD: McEwen buys into Great Bear
VANCOUVER – Great Bear Resources has closed its brokered and non-brokered private placements for gross proceeds of $10.1 million. The company has received an additional $1.1 million from the exercise of share purchase warrants since June 30, 2018. Rob McEwen…
