Reservoir Minerals, Inc.OTCPK - Current
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  • Fri, Jun. 17, 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.
    | Fri, Jun. 17, 5:56 PM | 7 Comments
  • Mon, Apr. 25, 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
    | Mon, Apr. 25, 8:17 AM | 52 Comments