Dec. 16, 2013, 7:59 AM
- Primero Mining (PPP) agrees to acquire Brigus Gold (BRD) in an all-stock transaction valued at ~C$220M.
- PPP will acquire each outstanding BRD common share for 0.175 of a PPP common share, and BRD shareholders will receive 0.1 of a common share in a newly incorporated company for each BRD common share; BRD shareholders will hold a combined ~90% interest in the spinoff company and PPP will hold the remaining ~10% interest in the spinoff company.
- Goldcorp (GG) which holds ~27% of PPP's outstanding common shares, has agreed to vote in favor of the proposed transaction.
Dec. 13, 2012, 8:20 AMPrimero Mining (PPP) agrees to acquire Cerro Resources (CRRRF.OB) in a deal valued at ~$119M. Cerro's principal asset is 69% of the feasibility stage Cerro Del Gallo project in Mexico, a gold-silver deposit with ~1M oz. of gold equivalent proven and probable reserves and 2.3M oz. of gold equivalent measured and indicated resources. | Comment!
Aug. 29, 2011, 10:52 AMPrimero Mining (MNOCF.PK -16.6%) is the big loser in AuRico Gold's (AUQ -12.3%) buyout of Northgate Minerals (NXG +38%). Northgate orignially planned to buy Primero for C$370M, but terminated the agreement after accepting the buyout offer from AuRico. Primero, waiving its right to match the deal, will receive a C$25M termination fee. | Comment!
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