FIRB

KARORA RESOURCES ANNOUNCES MERGER TRANSACTION WITH WESTGOLD RESOURCES

Retrieved on: 
Monday, April 8, 2024
CIBC, Agreement, GDX, Westgold Resources, Sale, G&A, AWST, OTCQX, Corporate spin-off, CBCA, Policy, Toronto Stock Exchange, KRR, Combined, Big Bell, Arrangement, Index, Safety, VWAP, Multilateral, Bluebird, ASX, TSX, Stikeman Elliott, Canada Business Corporations Act, Transaction, Good, Mining, Shareholder Meeting, Growth, Gold, FIRB, Security (finance)

TORONTO, April 7, 2024 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora") and Westgold Resources Limited (ASX: WGX) (OTCQX: WGXRF) ("Westgold") have agreed to combine in a merger pursuant to which Westgold will acquire 100% of the issued and outstanding common shares of Karora ("Karora Shares") by way of a statutory plan of arrangement under the Canada Business Corporations Act ("CBCA") ("Transaction").

Key Points: 
  • TORONTO, April 7, 2024 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora") and Westgold Resources Limited (ASX: WGX) (OTCQX: WGXRF) ("Westgold") have agreed to combine in a merger pursuant to which Westgold will acquire 100% of the issued and outstanding common shares of Karora ("Karora Shares") by way of a statutory plan of arrangement under the Canada Business Corporations Act ("CBCA") ("Transaction").
  • Karora shareholders will receive 2.5241 Westgold fully paid ordinary shares ("Westgold Shares"), A$0.68 (C$0.611) in cash and 0.30 of a share in a new company to be spun-out from Karora ("SpinCo") for each Karora Share held at the closing of the Transaction ("Offer Consideration").
  • Upon completion of the Transaction, existing Westgold and Karora shareholders will own approximately 50.1% and 49.9% of Enlarged Westgold, respectively.
  • The Transaction has been unanimously approved by the boards of directors of Westgold and Karora, and Karora's board of directors unanimously recommends that Karora shareholders vote in favour of the Transaction.

Completion of Placement to Zijin Mining

Retrieved on: 
Tuesday, March 5, 2024
Foreign Investment Review Board, FIRB, TSX, Completion, ASX, XAM

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.

Key Points: 
  • TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.
  • Details of the proposed placement to Zijin were announced to ASX on 20 November 2023 and 8 December 2023.
  • Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 6 February 2024, and approval by the Foreign Investment Review Board (FIRB) last week.
  • The Company has relied upon the exemption in section 602.1 of the TSX Company Manual in respect of the placement as an Eligible Interlisted Issuer.

Completion of Placement to Zijin Mining

Retrieved on: 
Monday, March 4, 2024
TSX, Foreign Investment Review Board, FIRB, ASX, XAM, Completion

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.

Key Points: 
  • TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.
  • Details of the proposed placement to Zijin were announced to ASX on 20 November 2023 and 8 December 2023.
  • Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 6 February 2024, and approval by the Foreign Investment Review Board (FIRB) last week.

$4.3 million Placement

Retrieved on: 
Monday, November 20, 2023
FIRB, Placement, Documentation, ASX, Acquisition, XAM, News, Ord Minnett, TSX, VWAP, Horizon Forbidden West, Security (finance)

TORONTO, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce the Company has received commitments for a placement to eligible professional and sophisticated investors of 78,181,818 fully-paid ordinary shares in Xanadu (New Shares) at an issue price of $0.055 each to raise A$4,299,999.99 (before costs) (Placement). The Placement will complete in two tranches. The first tranche, being the issue of 62,996,490 New Shares, is unconditional and will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1 (First Tranche). The second tranche, being the proposed subscription of 15,185,328 New Shares by Xanadu’s major shareholder Zijin Mining Group Co., Ltd (Zijin),1 is subject to formal documentation and a number of conditions set out below (Second Tranche).

Key Points: 
  • The first tranche, being the issue of 62,996,490 New Shares, is unconditional and will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1 (First Tranche).
  • Includes participation by Zijin on a proportionate basis (A$0.8 million), subject to Australia Foreign Investment Review Board (FIRB) and Xanadu shareholder approval.
  • Placement of the Second Tranche New Shares will occur 10 business days after the last of the Zijin Conditions are satisfied.
  • We will notify the market shortly of a date for our Extraordinary Meeting to approve Zijin’s share of this placement.

Vista Gold Corp. Announces $20 Million Royalty with Wheaton Precious Metals Corp. on Mt Todd

Retrieved on: 
Thursday, December 14, 2023
Natural Resources, Other Natural Resources, Environment, Mining, Minerals, Sale, Royalty, Acquisition, Mineral, Gold, VGZ, Right of first refusal, NYSE American, Refused, Foreign Investment Review Board, FIRB, TSX, News, Music, Project, Vista

Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to announce that its wholly-owned subsidiary Vista Gold Australia Pty.

Key Points: 
  • Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to announce that its wholly-owned subsidiary Vista Gold Australia Pty.
  • Ltd. (“Vista Australia”) has entered into a Royalty Agreement (the “Royalty Agreement”) with an affiliate of Wheaton Precious Metals Corp. (“Wheaton”) dated December 13, 2023, in relation to the Company’s Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia.
  • In consideration for the Royalty, Wheaton will provide Vista with $20 million to advance Mt Todd and for general corporate purposes.
  • Wheaton has also been granted a Right of First Refusal on any royalties, streams or pre-pays pertaining to Mt Todd.

Livent Releases Third Quarter 2023 Results

Retrieved on: 
Tuesday, October 31, 2023
Lithium, ASX, Adjustment, NYSE, FIRB, Midpoint (company), Regulation, LCE, GAAP, LTM, Growth, Commercial, Technical report, Corporation, Volume, Total, Calendar, Nemaska Lithium, Livent

-- Releases Feasibility Study for Nemaska Lithium Project --

Key Points: 
  • Livent Corporation (NYSE: LTHM) today reported results for the third quarter of 2023.
  • Third quarter revenue was $211.4 million, 10% lower than the second quarter of 2023 and 9% lower than the third quarter of 2022.
  • Volumes sold were roughly flat and lower average realized prices were partially offset by lower overall costs versus the second quarter of 2023 and the third quarter of 2022.
  • Livent has revised its guidance for full year 2023 financial performance and still expects significant year-over-year growth following record 2022 results.

Newmont Receives Clearances from Australia’s Foreign Investment Review Board and Japan’s Fair Trade Commission

Retrieved on: 
Monday, September 18, 2023
Mining, Minerals, Natural Resources, NCM, Philippine Competition Commission, JFTC, Australian Competition & Consumer Commission, NON, ASX, Government, PCC, PNG, NEM, Corporation, Acquisition, NGT, TSX, Copper, Treasurer, Letter, FIRB, NYSE, Newcrest Mining, Newmont

Last week, Japan’s Fair Trade Commission (JFTC) issued a clearance letter allowing closing of the proposed transaction to proceed any time after September 30, 2023.

Key Points: 
  • Last week, Japan’s Fair Trade Commission (JFTC) issued a clearance letter allowing closing of the proposed transaction to proceed any time after September 30, 2023.
  • Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year.
  • In August, the Australian Competition & Consumer Commission also cleared the proposed acquisition and conveyed its recommendation to the FIRB.
  • Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the transaction.

Albanese government launches new strategy for ties with Southeast Asia - and business is key

Retrieved on: 
Tuesday, September 5, 2023
Industry, ASEAN, Awareness, Education, Tourism, Health, Diplomacy, Agriculture, Hope, Reward, Area studies, Indigenous Australians, Foreign Investment Review Board, Government, Macquarie Group, Risk, First Nations, Growth, Policy, FIRB, Marketing, Management, Video game, Renewable energy

There is no doubt the Albanese government sees Southeast Asia as vital for Australia’s security and prosperity.

Key Points: 
  • There is no doubt the Albanese government sees Southeast Asia as vital for Australia’s security and prosperity.
  • Despite its 687 million people and expanding middle class, Australia’s level of economic engagement with Southeast Asia has remained stubbornly low.
  • In a particularly damning statistic, Australia’s direct investment in New Zealand is more than in the whole of dynamic Southeast Asia.
  • Australian governments have actually been trying for a long time to get Australian businesses interested in Southeast Asia.
  • The government has also funded organisations such as Asialink Business to build companies’ Asia capability for a decade.
  • It recommends a “whole-of-nation plan” to strengthen Southeast Asia literacy in Australian business, government, the education and training system, and the community.

Newmont Receives Clearance from Australia’s Competition Regulator to Acquire Newcrest

Retrieved on: 
Monday, August 21, 2023
Mining, Minerals, Natural Resources, NCM, Philippine Competition Commission, JFTC, Australian Competition & Consumer Commission, ASX, Competition Commission, Government, PCC, PNG, NEM, Corporation, Acquisition, NGT, TSX, Copper, Competition Bureau, ACCC, FIRB, NYSE, Newcrest Mining, Newmont

Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year.

Key Points: 
  • Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year.
  • Earlier this month, Korea’s Fair Trade Commission and Papua New Guinea’s (PNG) Independent Consumer & Competition Commission cleared the proposed acquisition.
  • Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the transaction.
  • On May 14, Newmont announced its definitive agreement to acquire Newcrest.

Newmont Receives Clearance from Korea Fair Trade Commission to Acquire Newcrest

Retrieved on: 
Tuesday, August 15, 2023
Retail, Luxury, Natural Resources, Mining, Minerals, NCM, Philippine Competition Commission, JFTC, Australian Competition & Consumer Commission, KFTC, ASX, Competition Commission, Government, PCC, Competition, PNG, NEM, Corporation, Acquisition, NGT, TSX, Australian Competition and Consumer Commission v Baxter Healthcare Pty Ltd, Copper, Competition Bureau, ACCC, FIRB, NYSE, Newcrest Mining, Newmont

Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that the Korea Fair Trade Commission (KFTC) has cleared the Company to proceed with its proposed acquisition of Newcrest Mining Limited (ASX, TSX, PNGX: NCM), stating that the transaction does not violate Korea’s Monopoly Regulation and Fair Trade Law.

Key Points: 
  • Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that the Korea Fair Trade Commission (KFTC) has cleared the Company to proceed with its proposed acquisition of Newcrest Mining Limited (ASX, TSX, PNGX: NCM), stating that the transaction does not violate Korea’s Monopoly Regulation and Fair Trade Law.
  • Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year.
  • Other regulatory approvals to be secured for Newmont’s proposed acquisition of Newcrest include the Australian Competition and Consumer Commission (ACCC), the Australia Foreign Investment Review Board (FIRB), the Japan Fair Trade Commission (JFTC), and the Philippine Competition Commission (PCC).
  • Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the transaction.