Pezim fights for uncle's legacy

Article Abstract:

Prime Resources Group Inc.'s proposed acquisition by San Francisco, CA-based Homestake Mining Co., its controlling stockholder, was opposed by Larry Pezim, the nephew of Murray Pezim who encouraged Prime Resources Group's stockholders to acquire and maintain their shares of the firm. Homestake Mining, which controls a stake of 50.6% at Prime Resources Group, proposes a takeover deal that will place an approximately-C$11.80-per-share value on Prime Resources Group's stocks. Pezim and Jack Caplan, a long-time shareholder of Prime Resources Group, belong to a group of critics opposed to Homestake Mining's bid, citing that the offer is less that the acceptable worth of the assets of Prime Resources Group.

Comment:

Plans to acquire remaining shrs of Prime Resources Group for about C$11.80 a shr

Foreign operations, Mining & Extractive Industries, Mining

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Homestake seeks rest of Prime

Article Abstract:

Homestake Mining Co. has tendered a C$406-million offer to purchase the Prime Resources Group Inc. shares that it does not already own. Homestake, which made the offer due to its intent to have a 49.4% stake in Prime Resources, has offered 0.675 shares for an individual share of Prime Resources. Homestake stated that the offer is part of its effort to consolidate its mining holdings in Canada and it intends to eliminate the expenses of running a publicly-owned subsidiary. Prime Resources will become a completely-owned subsidiary of Homestake if the deal pushes through.

Comment:

Tenders a C$406-mil offer to purchase the Prime Resources Group Inc shares that it does not already own

Gold & Silver Ores, Gold ores, Silver ores

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Placer Dome denies ownership of abandoned Philippine mine

Article Abstract:

Placer Dome Inc has denied allegations that it still holds an interest in the Marcopper mine in the Philippines. The company said that it has already transferred its 40% interest in Marcopper Mining Corp, which owns and operates the mine, to local Philippines businessmen. The company stated that it has no interest in the Marcopper mine assets, in the acquisition of those assets and or in copper mining in the Philippines.

United States, Copper Mines, Copper Ore and Nickel Ore Mining, Philippines, Copper mining, Marcopper Mining Corp.

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