Precious Metals / Minerals
Cayden Resources Inc Acquires 36,700 Hectares Around El Barqueno
Cayden Resources Inc. announced that it has acquired the 100% interest or the option to earn a 100% interest in two concessions totaling 36,700 hectares around the Company's El Barqueno concession. Under the Letter Agreement, Cayden paid the owner $25,000 and committed to 3 years of concession tax payments totaling $87,500 as listed in Schedule A. Cayden has the option to complete the 100% earn-in by incurring expenditures totaling $1,400,000 on the concession as listed in Schedule B and making a final payment by June, 2017 of $5,000,000. The final payment can be made in either cash or common shares which would be valued at the 10-day weighted average market price prior to payment date. The property will be subject to a 2.5% NSR payable to the underlying owners of the concession.
Troy Resources Ltd Declares Offer For Azimuth Unconditional
Troy Resources Ltd announced that it has declared its takeover offer for the shares in Azimuth Resources Limited (Azimuth) free from all conditions. As at 2.00pm (Sydney time) on July 2, 2013, Troy’s voting power (plus acceptance instructions under the Institutional Acceptance Facility) was 78.23%. As the offer has now been declared unconditional, Troy has a relevant interest and voting power in the shares in the Institutional Acceptance Facility. Processing of all acceptances received to date will now commence. Azimuth shareholders who have already accepted Troy’s offer, or who do so prior to 7.00pm (Sydney time)/ 5.00am (Toronto) time on Friday, July 5, 2013, will be issued their new Troy shares on July 11, 2013. Azimuth shareholders who accept after that date will be issued their Troy shares in accordance with the terms of the Troy offer. The offer continues to be unanimously recommended by the board and CEO of Azimuth and shareholders who have not accepted the Troy offer are encouraged to do so as soon as possible. The offer is scheduled to close at 7.00pm (Sydney time) / 5.00am (Toronto time) on July 12, 2013 (unless extended).
Phillips River Mining Ltd Announces Extension Of End Date For Acquisition Of Afranex Gold Ltd
Phillips River Mining Ltd announced that with reference to the announcement made earlier, regarding the entry into a conditional merger implementation agreement to acquire all of the issued shares in Afranex Gold Ltd (Afranex) (Agreement). The date for the satisfaction of the various conditions in the Agreement was June 30, 2013. PRH now announced that, due to the challenging market conditions, PRH and Afranex (together with the other parties to the Agreement) have on June 28, 2013 conditionally agreed to extend the end date of the Agreement to 31 January 2014. This change has been made to enable the parties to have sufficient time in the current market to satisfy the various conditions precedent to the Agreement summarised in the announcement on March 27, 2013, most notably the requirement for PRH to raise a minimum of $4,000,000 at $0.20 per share. PRH, Afranex and the other parties to the Agreement have conditionally agreed to extend the end date for satisfaction of the conditions precedent from June 30, 2013 to January 31, 2014. PRH and Afranex have agreed, as part of this change to extend the date for the satisfaction of the due diligence condition from its original date of April 22, 2013 to January 31, 2014. The only condition to the extension is a condition subsequent that Afranex negotiate extensions of the various Project Agreements (summarised in the announced on March 27, 2013) to January 31, 2014 by July 31, 2013.
Waterberg Coal Co Ltd Announces Off-Market Takeover Offer For All Of Ordinary Shares In Firestone Energy Limited
Waterberg Coal Co Ltd announced that in relation to the offers made under its off-market takeover bid for all of the ordinary shares in Firestone Energy Limited (FSE) (the Offers) pursuant to its bidder’s statement dated January 30, 2013 as supplemented by supplementary bidder’s statements dated made earlier. The Company now announced that it gives notice that it varies the Offers by extending the period during which the Offers will remain open so that the offer will now close on July 30, 2013 (unless further extended).
Troy Resources Ltd Updates On Takeover Offer For Azimuth Resources Ltd
Troy Resources Ltd announced that it has now received acceptances from more than 1,660 shareholders holding 68.72% of the shares in Azimuth Resources Ltd (this comprises direct acceptances and shares lodged into the Institutional Acceptance Facility, including the acceptances received into the IAF of Azimuth’s two largest shareholders representing 22.35% of the shares in Azimuth). processing acceptances and issuing new Troy shares to Azimuth shareholders once the 90% acceptance threshold is satisfied. Under the Corporations Act, the Troy offer cannot be extended during the last 7 days of the offer period whilst it remains subject to the 90% minimum acceptance condition. For that reason, Troy has made the decision to extend the offer for a further two weeks. The Offer will now close at 7.00pm (Sydney time) / 5.00am (Toronto time) on July 12, 2013.
Arafura Resources Ltd Announces Termination Of Land Purchase Agreement In Whyalla
Arafura Resources Ltd announced the formal termination of the Contract for Sale and Purchase of Land in Whyalla, South Australia. The land purchase agreement was executed in mid-2011. The decision to terminate follows the Company’s recently announced cost savings initiatives aimed at improving the economics of the Nolans Rare Earths Project (the Project). Under the revised scope of the Project and following comprehensive investigative work by the Company, it is evident that the Whyalla site is no longer required to facilitate the needs of the Project. Furthermore, the Company believes it unlikely that any benefit could be retained by continuing with the purchase agreement. The termination of the land purchase agreement will be effective as of June 24, 2013.
Teranga Gold Corp Announces Formal Offer To Acquire Oromin Explorations Ltd
Teranga Gold Corp announced that it has formally commenced offer (the Offer) to acquire all of the outstanding common shares (Oromin Shares) of Oromin Explorations Ltd. (Oromin) that it does not already own by mailing an offer and take-over bid circular (collectively, the Circular) and related documents to the Oromin security holders as required under applicable securities laws. Pursuant to the Offer, Oromin shareholders would receive 0.582 of a Teranga common share (Teranga Share) for each Oromin Share held. The Offer constitutes 80,000,000 Teranga Shares being offered to Oromin shareholders, including Teranga’s interest in Oromin. The Offer is open for acceptance until 9:00 pm (Toronto time) on July 30, 2013 (the Expiry Time), unless the Offer is extended or withdrawn.
Teranga Gold Corp Announces Formal Offer To Acquire Oromin Explorations Ltd
Teranga Gold Corp announced that it has formally commenced offer (the Offer) to acquire all of the outstanding common shares (Oromin Shares) of Oromin Explorations Ltd. (Oromin) that it does not already own by mailing an offer and take-over bid circular (collectively, the Circular) and related documents to the Oromin security holders as required under applicable securities laws. Pursuant to the Offer, Oromin shareholders would receive 0.582 of a Teranga common share (Teranga Share) for each Oromin Share held. The Offer constitutes 80,000,000 Teranga Shares being offered to Oromin shareholders, including Teranga’s interest in Oromin. The Offer is open for acceptance until 9:00 pm (Toronto time) on July 30, 2013 (the Expiry Time), unless the Offer is extended or withdrawn.
Uranium One Inc Provides Update On Going Private Transaction
Uranium One Inc announced that the closing of the agreement between JSC Atomredmetzoloto, its affiliate Effective Energy, N.V. (collectively, ARMZ) and the Corporation under which Uranium One would be taken private pursuant to a plan of arrangement is now expected to occur during the third quarter of 2013. The transaction was approved on March 7, 2013 at a special meeting of Uranium One common shareholders and optionholders and has received all required court approvals. Closing is subject to regulatory approvals in a number of jurisdictions, most of which have been received; the last such required approval is now expected during the third quarter.
Energy Fuels Inc and Strathmore Minerals Corp Execute Definitive Arrangement Agreement
Energy Fuels Inc and Strathmore Minerals Corp announced that the companies have entered into a definitive arrangement agreement (the Arrangement Agreement) with respect to the transaction previously announced on May 24, 2013 (the Transaction). Pursuant to the Transaction, Energy Fuels will acquire by way of a plan of arrangement in accordance with the Business Corporations Act (British Columbia), all of the issued and outstanding common shares of Strathmore. Strathmore shareholders will receive 1.47 common shares of Energy Fuels for each common share of Strathmore held, resulting in the shareholders of Strathmore owning approximately 21% of the issued and outstanding shares of Energy Fuels upon completion of the Transaction based on Energy Fuels' current common shares outstanding. The Arrangement Agreement contains customary deal support provisions, including a reciprocal expense reimbursement fee of $650,000 payable to the other party if either party does not obtain shareholder approval of the Transaction, as well as a reciprocal break fee of $1,300,000 payable if the Transaction is not completed in certain other circumstances. In addition, the Arrangement Agreement includes customary non-solicitation covenants by Strathmore, as well as the right for Energy Fuels to match any superior proposal that may arise. The shareholders of Energy Fuels and Strathmore will each be asked to approve the Transaction at respective special shareholder meetings to be held in August 2013.
Markets
- Sectors
- U.S.
- Europe
- Asia
Sector Summary
| Energy |  -0.27% |
| Basic Materials | -0.35% |
| Industrials |  +0.02% |
| Cyclical Goods & Services | +0.11% |
| Non-Cyclical Goods & Services | -0.25% |
| Financials | -0.21% |
| Healthcare | -0.08% |
| Technology | -0.01% |
| Telecoms | -0.31% |
| Utilities | -0.31% |
| DOW | 14,932.41 | -42.55 |
-0.28% |
| S&P 500 | 1,614.08 | -0.88 |
-0.05% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.52 | -0.13 |
-0.09% |
Analyst Research
| Report Title | Price |
|---|---|
|
Provider: Edison Investment Research
|
$10.00
|
|
Provider: Edison Investment Research
|
$10.00
|
|
Provider: Edison Investment Research
|
$10.00
|
|
Provider: Edison Investment Research
|
$10.00
|
|
Provider: Edison Investment Research
|
$10.00
|
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.
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
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.
