M&A, Financing and Restructuring
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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…
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URANIUM: Denison buys Cameco’s Wheeler River share
SASKATCHEWAN – Denison Mines Corp. has struck a deal to acquire the 24% interest in the Wheeler River uranium project currently held by Cameco Corp. Denison will issue approximately 24.6 million shares at a deemed price of $0.65 per share,…
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MERGER: Nevsun agrees to $1.8B takeover by Zijin Mining
VANCOUVER – Vancouver-based Nevsun Resources has agreed to a friendly takeover by Zijin Mining Group of Fujian, China. Zijin is offering an all-cash deal of C$6.00 per share for all the issued and outstanding shares of Nevsun, making the deal…
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DIAMONDS: Peregrine shareholders approve De Beers offer
TORONTO – Shareholders of Peregrine Diamonds have voted overwhelmingly in favour of a takeover offer from De Beers Canada. The arrangement was passed by 98.35% of votes cast by all stakeholders. De Beers proposed to acquire all of the Peregrine…
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Aben Resources adds Eric Sprott as strategic shareholder
Aben Resources (TSXV: ABN; US-OTC: ABNAF) is expanding its exploration and drilling program this year at its Forrest Kerr gold project in B.C.’s Golden Triangle with the help of a $2 million investment from financier Eric Sprott. The financing follows assays…
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MAGNESIUM: Quebec chips in $31M for Alliance plant
QUEBEC – Alliance Magnesium of Brossard, Que., has signed a financing agreement with the province’s Economic Development Fund for $30.9 million that will be applied toward building the first commercial phase of a plant in Danville. Quebec is offering a…
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Osisko Mining to acquire Beaufield Resources
Osisko Mining (TSX:OSK) is stitching together a larger land package around its Windfall project in northern Quebec with its proposed $17.5 million all-share acquisition of Beaufield Resources (TSXV: BFD). Beaufield’s Urban property is adjacent to Osisko’s Windfall project in the Abitibi greenstone belt.…
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McEwen Mining borrows US$50M for Gold Bar construction
McEwen Mining (TSX: MUX; NYSE: MUX) has closed a US$50 million senior secured three-year term loan first announced in late May, with the funds earmarked for completion of construction at the company’s new Gold Bar gold mine in Nevada, and for…
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GOLD: Gold Fields restructures South Deep operation
SOUTH AFRICA – Johannesburg-based Gold Fields has announced a restructuring at its South Deep gold mine. The mine, located 45 km southwest of Johannesburg in the Witwatersrand Basin, has been a challenging operation since Gold Fields purchased it from Barrick…
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MERGER: Metal 7 acquires maker of shovel lifting equipment
SEPT-ILES, Que. – To broaden its range of highly specialized products and solutions for the mining industry, Metal 7 Inc. announces the acquisition of the manufacturer Megatraction Equipment, which is headquartered in Quebec City. Megatraction designs and builds the Megalifter,…
