Osisko Gold Royalty stock soars as company signs ‘transformational’ $1.13B deal to buy U.S. assets

Montreal-based Osisko Gold Royalties Ltd. said it is more than doubling its precious metals portfolio with the $1.13 billion acquisition of diamond, gold and silver assets from U.S. private equity firm Orion Mine Finance Group. Osisko has been seeking out such a “transformational” acquisition since the company formed three years ago, said CEO Sean Roosen. ...

Can Yancoal raise finances outside China?

Yancoal continues to be dogged by questions about its ability to fund the acquisition of Rio Tinto’s Hunter Coal & Allied assets, despite being confirmed as Rio’s preferred bidder on Tuesday. Yancoal has previously been criticised for not being able to show how it would fund the planned mega-deal. This comes after it was revealed ...

Troubled Noble Group struggling to repair once-lauded reputation

Singapore-listed commodities giant Noble Group is still yet to recover from their share price plummeting by 70% this year following a series of damaging incidents for the business. The company is struggling to instil confidence in investors despite agreeing upon an 11th hour deal to extend a $2bn credit facility. The company, which has been ...

New rescue merger on the cards for Vantage Goldfields

Canada’s Galane Gold has proposed a rescue merger with embattled South African gold miner Vantage Goldfields, owner of the Lily Mine and Barbrook Mine. The Barbrook and Lily Mines near Barberton, South Africa, were put into administration last year, following a disaster in which a pillar in the Lily collapsed, causing three people to fall ...

Rio Tinto board gathers to weigh up Glencore’s $US2.3b coal deal disruption

The Australian Financial Review has reported that “Rio Tinto’s board will meet on Tuesday morning to consider Ivan Glasenberg’s $US3.47 billion ($4.56 billion) attempt to disrupt Yancoal Australia’s acquisition of the Anglo-Australian’s last and best outpost in Australian coal, Coal & Allied. The unscheduled London board meeting, whose outcome remains the subject of deep uncertainty, ...

Glencore chief lobbies Rio to back its rival bid for coal assets

Original published by Scott Murdoch in The Australian Glencore executives have made a direct pitch to Rio Tinto bosses in London to convince the board to back its $US2.55 billion ($3.35bn) bid to buy the Coal and Allied ­assets in the Hunter Valley. Rio Tinto and the Swiss-based mining house held discussions at the weekend ...

Orion Mine Finance Group sells off precious metals portfolio to Osisko Gold

A cash-cum-stock deal worth USD $840m has been struck between Orion Mine Finance Group and Osisko Gold, in which Canada-based Osisko will acquire Orion’s precious metals portfolio. Osisko will pay $334m worth of shares and $501m in cash to Orion’s stakeholders in exchange for the portfolio of 61 royalties, six streams and seven precious metal ...

Yancoal mega-deal under threat as Rio Tinto weighs up ‘superior bid’ from Glencore 

Chinese miner Yancoal’s ambitious bid for Rio Tinto coal assets in the Hunter Valley has suffered a major setback, following the surprise announcement of a rival offer from Anglo-Swiss heavyweight Glencore. The Glencore offer of US$2.55 billion for Rio Tinto’s Coal & Allied unit, which includes mines in the Hunter and a major stake in ...

Pacton Gold signs option agreement for mineral assets in Red Lake, Canada

Pacton Gold has signed an option agreement with Frontline Gold to acquire a 100% interest in three minteral assets in the Red Lake mining district of north-western Ontario. Pacton says that the area is home to some of the richest gold deposits in the world, producing over 25 million ounces from high-grade zones. The three ...

Mitsubishi stake in Rio Tinto Hunter Valley coal assets to be sold to ‘superior bidder’ in deal

Mitsubishi stake in Rio Tinto Hunter Valley coal assets to be sold to ‘superior bidder’ in deal Rio Tinto’s sale of its Hunter Valley coal assets now hinge on Yancoal’s ability to prove the stability of their financing situation after Mitsubishi agreed to divest their stake in Coal & Allied to either the state-owned Chinese ...

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