M&A, Financing and Restructuring
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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…
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SOFTWARE: Dundee buys MineRP to combine with Terrative division
TORONTO – Dundee Precious Metals has entered into a definitive agreement with MineRP Holdings PL, a provider of integrated mining technical solutions, whereby Dundee will combine its proprietary wireless underground communications technology, managed within Dundee’s Terrative Digital Solutions division, with…
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GOLD: Alio raises $50M for Ana Paula project
MEXICO – Thanks to a bought deal, Alio Gold (formerly Timmins Gold) of Vancouver has raised approximately C$50.4 million for its Ana Paula gold project in Guerrero. The financing was underwritten by a syndicate led by Cormark Securities and Clarus…
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ZINC: Osisko Metals wastes no time bulking up treasury for work in the Bathurst camp
NEW BRUNSWICK – Just weeks after Bowmore Exploration became Osisko Metals, the base metal arm of the famed gold miner has put close to $30 million into its treasury. The company recently acquired the Mount Fronsac zinc-lead property 40 km…
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COMMENT: Dominion Diamond accepts sweetened offer from Washington Companies
YELLOWKNIFE, NWT – The management of Dominion Diamond Corp. has agreed to accept the sweetened takeover offer of the Washington Companies, the private company based in Missoula, Montana. In March, Washington offered US$13.50 per share, and the Dominion board turned…
