Glamis bids for Mar-West
Article Abstract:
Glamis Gold Ltd. has offered to acquire Mar-West Resources Ltd. in a deal valued on paper at about C$40.6-million. Under the deal, Mar-West shareholders will receive one share of Glamis or 0.8 shares of Glamis plus 96 cents for every two shares of Mar-West. The deal is still subject to the approval of holders of 75% of Mar-West shares. Mar-West, a Latin American gold explorer, has been among the gold exploration companies which saw their shares drop in value along with the price of gold as investors backed away from the junior stocks on the Vancouver Stock Exchange.
Comment:
Has offered to acquire Mar-West Resources of Latin America in a deal valued on paper at about C$40.6-million
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Merger puts Franco-Nevada in big leagues
Article Abstract:
Gold royalty company Franco-Nevada Mining Corp has announced its merger with sister company, Euro-Nevada Mining Corp, to form a gold mining firm with a market capitalization of C$4.5 billion ($3.1 billion). The merged company operates only one mine but owns the rights to a small percentage of the revenue (net smelter return) or profit in several mines. The new Franco-Nevada has reported a profit of C$25.5 million on revenues of C$56.4 million for the three months ended June 30, 1999, up from C$15.8 million on C$29.4 million from the year-ago period.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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