M&A, Financing and Restructuring
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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…
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BUSINESS: Baldor Electric Canada is now ABB
Zurich – ABB will integrate the Baldor Electric Canada company name into its global ABB brand as a part of its Next Level strategy, which includes harmonizing different ABB-owned brands under the global ABB master brand. Beginning March 1, 2018, Baldor…
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M&A: Alio Gold to acquire Rye Patch Gold in all-share deal
In an effort to diversify geopolitical risk and transform itself from a single-asset producer, Mexico-focused Alio Gold is buying Rye Patch Gold and its Florida Canyon mine in Nevada, one of two acquisitions announced this week of companies with projects in the mining friendly…
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GOLD: Anaconda makes bid for Maritime Resources
NEWFOUNDLAND – Anaconda Mining of Toronto is making an all-share bid to acquire all the issued and outstanding common shares of Maritime Resources Corp. of Vancouver. Anaconda is offering $0.14 per Maritime share, a premium of 40% to the Maritime…
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COBALT: First Cobalt offers $150M for US Cobalt
TORONTO – First Cobalt is making an all-share offer for U.S. Cobalt of Vancouver. The deal is worth an estimated $149.9 million. First Cobalt is offering to exchange each U.S. Cobalt share for 1.5 First Cobalt shares. The exchange ratio…
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GOLD: Osisko acquires royalty on Eagle project from Victoria Gold
YUKON – Montreal’s Osisko Gold Royalties has acquired a 5% net smelter return on the Dublin Gulch property belonging to Victoria Gold Corp. of Toronto. Dublin Gulch is part of Victoria’s Eagle gold project about 85 km by road north…
