Month: November 2011

AuRico Gold Inc. Issues Fundamental Change Notice and Offer to Purchase to Holders of Its 3.50% Convertible Senior Notes due 2016

TORONTO, November 23, 2011 /PRNewswire via COMTEX/ — AuRico Gold Inc., (“AuRico”, or the “Company”) AuRico Gold Inc. today notified holders of its 3.50% Convertible Senior Notes due 2016 (the “Notes”) that a Fundamental Change (as defined in the Indenture (as defined below) under the indenture, dated as of October 15, 2010, as supplemented by the first supplemental indenture, dated as of October 5, 2010, and the second supplemental indenture, dated as of October 26, 2011 (collectively, the “Indenture”) has occurred and offered to purchase (the “Offer to Purchase”) from each holder (the “Holder”) of the Notes any or all of such Holder’s outstanding Notes on December 23, 2011 or a later date if AuRico elects to extend the Offer to Purchase (the “Fundamental Change Purchase Date”). The purchase price (the “Fundamental Change Purchase Price”) for Notes validly surrendered and not validly withdrawn will be US$1,000 in cash per US$1,000 principal amount of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Purchase Date.

Pala invests in Mercator Minerals Ltd.

TORONTO, Nov. 23, 2011 /CNW/ – Pala Investments Holdings Limited (“PIHL”) announced today that on June 22, 2011, PIHL acquired ownership of 4,354,500 common shares of Mercator Minerals Ltd. (“Mercator”) in connection with the acquisition by Mercator of Creston Moly Corp. (“Creston”) by way of plan of arrangement (the “Arrangement”). In addition, on November 21, 2011 PIHL purchased units (“Units”) of Mercator by way of private placement. Each Unit consists of one common share and one quarter of a common share purchase warrant (each a “Warrant”). PIHL acquired 1,143,014 Units comprising 1,143,014 common shares and 285,753.50 Warrants. Collectively between the two transactions, PIHL acquired ownership of 5,497,514 common shares representing approximately 2.12% of the 258,782,175 issued and outstanding common shares of Mercator, as known by PIHL, on a non-diluted basis.

Agnico-Eagle Offer for Grayd Expires; Agnico-Eagle acquires 94.77%

Agnico-Eagle Mines Limited (AEM.TO) and Grayd Resource Corporation (GYD.V) announced that 91,228,900 common shares of Grayd, representing approximately 94.77% of the outstanding Shares on a fully-diluted basis, have been validly deposited pursuant to the offer made by Agnico-Eagle to acquire all of the issued and outstanding Shares. All conditions of the Offer have been satisfied and the Offer has now expired and will not be extended. Agnico-Eagle has taken up all deposited Shares and will pay for such deposited Shares not later than November 23, 2011.

Mercator Minerals Announces $20 Million Non Brokered Financing

Mercator Minerals Ltd. today announced that it has arranged a non-brokered private placement with purchasers to purchase 11,428,572 units at a purchase price of $1.75 per Unit for aggregate gross proceeds of $20 million. The sale of the Units under the Offering has been fully allocated to a limited number of accredited purchasers, and is subject to necessary regulatory approvals and the execution and delivery of customary documentation.

Torex Receives $83 Million From Warrant Exercises

TORONTO, Ontario, November 16, 2011 – Torex Gold Resources Inc. (“Torex” or the “Company”) (TSX:TXG) is pleased to announce that 63.9 million common share purchase warrants have been exercised into an equivalent number of common shares of the Company at a price of $1.30 per share, for total proceeds to the Company of $83 million. Of this total, three million warrants were exercised before July 31, 2011.

MAG Silver Reports Third Quarter Financial Results

Vancouver, B.C. MAG Silver Corp. (TSX: MAG; NYSE-A: MVG) (“MAG” or the “Company”) announces the Company’s unaudited financial results for the three and nine months ended September 30, 2011. For complete details of the third quarter unaudited Condensed Interim Consolidated Financial Statements and related Management’s Discussion and Analysis, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in Canadian dollars unless otherwise specified.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.

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