M&A, Financing and Restructuring
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GOLD: Amex Exploration announces 100,000 metre drill program for Perron
QUEBEC – Montreal-based Amex Exploration has announced the details of a fully-funded 100,000 metre drill program for its 100% owned, 4,518 hectare Perron gold property located 110 km north of Rouyn-Noranda. This news follows the closing of an oversubscribed $8…
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PALLADIUM: Implats to acquire North American Palladium
TORONTO – Brookfield Business Partners L.P. is getting out of the palladium mining business. The firm has decided to sell its 81% interest in North American Palladium to Impala Platinum Holdings of Johannesburg, South Africa. Implats has agreed to pay…
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TAKEOVER: JLR acquires Porcupine Engineering
OTTAWA and TIMMINS, Ont. – J.L. Richards & Associates Limited (JLR) announced today that it has acquired Timmins-based engineering firm Porcupine Engineering Services (PES). This exciting strategic integration will allow JLR to expand its existing team in Timmins and offer…
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Stornoway’s creditors keep Renard on life support
Stornoway Diamond (TSX: SWY) and its creditors reached a deal that will see the Renard diamond mine continue to operate during corporate restructuring following the company’s failure to generate positive free cash flow in 2019. Stornoway entered into a letter of…
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GOLD: Osisko Gold Royalties to take over Barkerville Gold Mines
MONTREAL – Osisko Gold Royalties and Barkerville Gold Mines have signed a definitive agreement allowing Osisko to acquire all the issued and outstanding common shares of Barkerville. Osisko currently owns approximately 33% of Barkerville. Each Barkerville shareholder (excluding Osisko) will…
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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…
