• Jun. 17, 2016, 5:56 PM
    • Nevsun Resources (NYSEMKT:NSU) fell 9% in today's trade after it said Reservoir Minerals (OTCPK:RVRLF) shareholders approved its sweetened takeover offer.
    • The deal was clinched after NSU increased the original $365M cash-and-scrip offer by an additional $75M in cash, or $2/share.
    • The successful takeover gives NSU control of Reservoir's portfolio of development projects in Africa and Europe, including the flagship Timok copper and gold project in Serbia.
    Jun. 17, 2016, 5:56 PM | 7 Comments
  • Apr. 25, 2016, 8:17 AM
    • Nevsun Resources (NYSEMKT:NSU) agrees to acquire Reservoir Minerals (OTCPK:RVRLF) for ~$365M in cash and stock, valuing Reservoir at ~C$9.40/share.
    • NSU says the combination creates a diversified mid-tier base metals company with a cash producing operating asset in Bisha, a high grade open pit copper-zinc mine, and 100% ownership in the upper zone of the Timok copper project in Serbia.
    • The deal allows Reservoir to exercise its right of first refusal on Freeport McMoran's stake in the Timok project, ending Lundin Mining's (OTCPK:LUNMF) previously announced acquisition of the stake.
    • Now read Nevsun Resources: Don't read too much into the 'delayed' commissioning phase
    Apr. 25, 2016, 8:17 AM | 52 Comments
  • Mar. 4, 2016, 8:48 AM
    • Freeport McMoRan (NYSE:FCX) agrees to sell part of its stake in a copper-gold project in Serbia to Lundin Mining (OTCPK:LUNMF) for as much as $263M.
    • The current partners in the Timok project are FCX, operator of the project with a 55% interest, and an affiliate of Reservoir Minerals (OTCPK:RVRLF), and the deal is expected to close in Q2 if Reservoir declines to exercise a right of first refusal.
    • Lundin will acquire 100% of FCX's interest in the upper zone of the deposit and 28% of FCX's interest in the lower zone; Lundin will become the operator.
    Mar. 4, 2016, 8:48 AM | 10 Comments
  • Jan. 28, 2016, 3:49 PM
    • BHP Billiton (BHP +2.1%) signs a letter of intent to help fund exploration at Aston Bay Holdings' (OTC:ATBHF) Storm copper project, Reuters reports.
    • Under the terms of the preliminary deal, BHP could earn a 75% interest in Storm, located in Canada's Nunavut territory, if it spends a minimum of C$40M on exploration over the next few years.
    • BHP's move comes shortly after similar steps by rival Rio Tinto (RIO +1.6%), which signed deals involving the copper assets of Canadian junior miners Avala Resources (OTC:AVLRD) and Reservoir Minerals (OTCPK:RVRLF).
    Jan. 28, 2016, 3:49 PM