* Bid values Cream at C$0.12/shr, 60 pct premium
* Endeavour shrs open up slightly at C$4.24
* Santa Fe Gold bids C$10.2 mln for Columbus Silver
(Adds Santa Fe-Columbus deal)
TORONTO, Sept 27 Small-cap miner Endeavour
Silver (EDR.TO) said on Monday it intends to buy explorer Cream
Minerals CMA.V in an C$10.6 million ($10.3 million) all-cash
The offer represents a 60 percent premium over Cream's
closing price of 7.5 Canadian cents a share on Friday on the
TSX Venture Exchange. It values each of the estimated 88.3
million Cream common shares at 12 Canadian cents.
Vancouver-based Endeavour said its offer provides full
value for Cream's main asset, the Nuevo Milenio exploration
property in western Mexico.
Endeavour Silver shares opened slightly higher on Monday at
C$4.24 on the Toronto Stock Exchange, while Cream Minerals
shares were halted on Friday at 7.5 Canadian cents.
Also on Monday, Vancouver-based junior explorer Columbus
Silver Corp (CSC.V) said it would sell itself to Santa Fe Gold
Corp SFEG.OB in a C$10.2 million all-share deal.
Current Columbus shareholders will receive 0.17167 Santa Fe
shares for each Columbus share, and will own about 9.5 percent
of Santa Fe on a fully diluted basis.
The deal is subject to regulatory approval and a vote by
Columbus Silver shares last traded on Thursday at 12.5
Canadian cents, while Santa Fe Gold shares dipped 5.41 percent
to US$1.05 on the over-the-counter Bulletin Board.
(Reporting by Julie Gordon; editing by Peter Galloway)