M&A, Financing and Restructuring
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ZINC-LEAD: Canadian Zinc welcomes $20M investment
VANCOUVER – Canadian Zinc Corp. has entered into an equity financing arrangement with a subsidiary of Resource Capital Fund. The fund will purchase 100 million Canadian Zinc shares at $0.20 per share. The subsidiary will also be issued 50 million…
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Nevsun rejects $1.5B proposal from Euro Sun and Lundin Mining
Nevsun Resources (TSX: NSU; NYSE: NSU) is rejecting an unsolicited proposal by Euro Sun Mining (TSX: ESM) and Lundin Mining (TSX: LUN) that it says lacks adequate value and has a problematic structure. The mining company argues the cash and share proposal undervalues its high-grade…
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Azarga Uranium to merge with URZ Energy
The merger of Azarga Uranium (TSX: AZZ; US-OTC: PWURF) and URZ Energy (TSXV: URZ; US-OTC: URZZF) will create a new uranium development company focused on in situ recovery (ISR) uranium deposits in the United States. Azarga controls six uranium assets in the U.S. and…
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Centerra rebuffs Chaarat’s $800M offer for Kumtor mine
Before Chaarat Gold (LON: CGH) launched an US$800-million, cash-and-share proposal to acquire Centerra Gold’s (TSX: CG) Kumtor mine in Kyrgyzstan, very few North Americans had even heard of the junior mining company. But what Chaarat lacks in visibility on this side of the…
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GOLD-COPPER: Seabridge raises $19.7M for KSM exploration
BRITISH COLUMBIA – Toronto-based Seabridge Gold has raised $19.7 million for exploration this year at its KSM gold-copper project 65 km northwest of Stewart. The company issued a total of 1.15 million flow-through shares (including the over-allotment) at a price…
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Agnico Eagle slashes stake in Belo Sun
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) has sold 44.55 million common shares it owned in Belo Sun Mining (TSX: BSX), slashing its stake in the company from 19.14% to about 9.57%. The gold major announced on April 20 that it had completed…
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GOLD: Goldcorp invests in new explorer in the Eeyou Istchee James Bay region
QUEBEC – Vancouver-based Goldcorp is investing $3.7 million to acquire a 14% interest in the new Quebec Precious Metals Corp. The new company will combine the assets of Montreal-based Canada Strategic Metals, Matamec Exploration, and Sphinx Resources. Together the three…
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Nemaska Lithium attracts financing for Whabouchi
Nemaska Lithium (TSX: NMX; US-OTC: NMKEF) has landed two big financing deals in as many weeks with Japanese multinational conglomerate SoftBank Group Corp. and private equity firm Orion Mine Finance. The two companies agreed this month to put their shoulders to…
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ACQUISITION: Weir in $1.3B deal for ESCO
GLASGOW – Weir Group has entered into a binding agreement to acquire ESCO Corp. (“ESCO”), a U.S. company based in Portland, Ore., for an equity value of US$1.1 billion and an estimated enterprise value of US$1.29 billion. ESCO is the…
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GOLD: Orion buys into Victoria and its Eagle development
YUKON – Orion Mine Finance of Toronto has invested $75 million in Victoria Gold and its shovel ready Eagle gold project about 85 km northeast of the village of Mayo in the central part of the territory. Orion has purchased…
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DIAMONDS: Court approves merger of Kennady, Mountain Province
TORONTO – Kennady Diamonds and Mountain Province Diamonds have received final approval from the Ontario Superior Court of Justice (Commercial List) for their business combination. The deal was scheduled to close on April 13, 2018. The arrangement calls for a…
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COPPER: Teck raises Quebrada Blanca interest to 90%
CHILE – Teck Resources of Vancouver has raised its interest in the Quebrada Blanca copper mine to 90%. Teck recently purchased Inversiones Mineras S.A., a private Chilean company, that held a 13.5% interest in the operating company, Compania Minera Teck…
