Analyst Research

Report Title Price
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Viking Ashanti Ltd And Auminco Mines Limited To Merge

Tuesday, 19 Nov 2013 05:13pm EST 

Viking Ashanti Ltd announced that it has entered into a binding Heads of Agreement with emerging coal developer Auminco Mines Limited (AUM or Auminco) under which it has agreed to merge with Auminco in a share exchange transaction. Viking proposes to issue Viking shares and options to acquire 100% of the shares and options in Auminco on the basis that Auminco shareholders will hold approximately 59% of the new enlarged capital on an undiluted basis of Viking prior to any future capital raising. A minimum capital raising of $4.5 million is planned for the consolidated company in early 2014 to fund operations, with the minimum expected to complete internal production feasibility studies and to make development decisions. Viking will also issue 3,000,000 unlisted Viking options to Auminco optionholders under the transaction (exercisable at $0.20 on or before November 15, 2016). On completion of the merger, Viking will invite three members of the current AUM management team to join the VKA Board. 

Company Quote

20 Oct 2014