M&A, Financing and Restructuring
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IRON ORE: Champion moves closer to Bloom Lake reopening
QUEBEC – Champion Iron of Montreal has moved another step closer to reopening the Bloom Lake iron ore mine with the non-brokered sale of a $31.2 million subordinated unsecured mandatory convertible debenture to Glencore International. The debenture will mature in…
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ZINC-COPPER: Hudbay closes $242M equity offering
TORONTO – Hudbay Minerals says it has closed its previously announced equity offering of 24 million shares at a price of $10.10 per share. Gross proceeds are $242.4 million. The company said it will use the net proceeds of the…
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GOLD: McEwen raises $40M for purchase of Black Fox mine
TORONTO – McEwen Mining has entered into an agreement with a syndicate of underwriters for the purchase of 18 million common shares at a price of $2.25 each and 18 million warrants. Each warrant allows the holder to purchase a…
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GOLD: Alamos planning friendly $770M takeover of Richmont
TORONTO – Alamos Gold and Richmont Mines have announced the signing of a definitive agreement whereby Alamos will acquire all of the Richmont shares. The deal has a total equity value of US$770 million on a fully diluted basis. Each…
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GOLD: Money by the tens of millions
VANCOUVER and TORONTO – Once again it seems investors are eager to put their money where the gold might be. In the last week, Atlantic Gold placed $18.2 million in two separate deals, Barkerville Gold Mines floated a $35-million deal,…
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LEAD-ZINC: Trevali buys African property portfolio from Glencore
VANCOUVER – Trevali Mining Corp. has agreed to pay US$417.9 million for Glencore’s portfolio of zinc assets in Africa. The deal includes an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in…
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ZINC-LEAD: Osisko Metals to raise up to $10M
NEW BRUNSWICK – Once again there seems no shortage of investors when the Osisko name is on the offering. Today Osisko Metals announced it will issue flow-through shares for work in the Bathurst lead-zinc camp and elsewhere. The company will…
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COPPER-GOLD: Freeport caves in to Indonesian government over Grasberg interest
INDONESIA – Freeport-McMoRan of Phoenix, Ariz., has agreed to give up control of the world’s second largest copper mine, Grasberg, to the Indonesian government. The announcement comes after escalating public outrage at foreign ownership of the mine. In January the…
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GOLD: Osisko to raise $80M from shares and flow-through deal
TORONTO – Osisko Mining is having great success raising money as results from its gold exploration projects keep getting better and better. Early on the morning of August 29, the company said it would raise $50 million through the sale…
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IRON ORE: Champion arranges off-take, financing with Glencore for Bloom Lake
QUEBEC – Montreal’s Champion Iron has secured conditional financing of $31 million from Glencore International for its Bloom Lake iron ore mine reopening. As part of the deal, Champion and Glencore will enter into an off-take agreement with fixed terms…
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EQUIPMENT: Cat dealer Toromont to acquire Hewitt $1B deal
TORONTO – Toromont Industries today announced that it has entered into a definitive agreement to acquire the businesses and net operating assets of the Hewitt Group of companies in exchange for consideration of $917.7 million cash plus the issuance of 2.25 million Toromont shares (nominally $100…
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GOLD: IDM raises $6M for work at Red Mountain
BRITISH COLUMBIA – IDM Mining of Vancouver is raising $6.0 million through a non-brokered private placement for its Red Mountain gold project 15 km east of Stewart. The company will issue approximately 38.7 million flow-through shares at a price of…
