- Curis Resources agrees to be acquired by its largest shareholder Taseko Mines.
- This was unexpected, but provides investors with an exit possibility.
- The investment thesis will now be invalidated as Curis will no longer be a standalone company.
Permitting Versus Testing: The High-Risk/High-Reward Stories Of Curis Resources And Excelsior Mining
- Curis Resources and Excelsior Mining are very similar companies, having in situ recovery (ISR) copper projects in Arizona, with favorable economics over traditional copper mining projects.
- The main risk for Curis Resources is the permitting process for the Florence project, with a lot of local opposition concerning the water supply.
- Excelsior is low on cash and its Gunnison project is less advanced: the PFS outlines recommendations for thorough in situ testing of various aspects in order to prove viability.
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Sep. 9, 2014, 7:31 AM
- Taseko Mines (NYSEMKT:TGB) says it will buy mineral exploration and development company Curis Resources (OTC:PCCRF) in an all-share deal.
- The acquisition will give Taseko access to the advanced-stage Florence copper project in central Arizona, strengthening its near-term development pipeline.
- Under the deal, Curis shareholders will receive 0.438 of a Taseko common share for each Curis share held, worth $1.055 per share, and valuing Curis at roughly C$80M ($72.9M).
- Taseko will also provide Curis with $2M in short-term financing to ensure the company has sufficient liquidity until the deal closes.
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