GOLD 1308.30 $/ozChange: 9.42
PLATINUM 1479.50 $/ozChange: 6.00
R/$ exchange 10.51Change: 0.02
R/€ exchange 14.12Change: 0.06
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
Home
 
Sector News
 
Silver
 
 
SILVER
 
Coeur d’Alene Mines completes Orko Silver takeover
PRINT
 
 
Embed Code Close
content
 
17th April 2013
TEXT SIZE
Text Smaller Disabled Text Bigger
 

TORONTO (miningweekly.com) – Idaho-based miner Coeur d’Alene Mines has completed its $382-million cash-and-stock takeover of Canadian miner Orko Silver.

Coeur on Tuesday said it had paid a total of C$100-million in cash and issued a total of 11.57-million common shares of Coeur and 1.59-million warrants to acquire common shares of Coeur.

The company in February made an offer to buy Orko for C$384-million, after Orko initially agreed to a takeover deal by First Majestic.

“We are excited to complete the acquisition of Orko and look forward to developing La Preciosa into a world-class silver mine that generates an attractive rate of return for shareholders over a long mine life,” Coeur president and CEO Mitchell J Krebs said.

Coeur shares traded 1.62% lower at C$15.17 apiece on Wednesday morning.

Edited by: Creamer Media Reporter

 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

FULL Access to Mining Weekly and Engineering News - Subscribe Now!
Subscribe Now Login
 
 
Topics in this article
City Company Currency Person
Province Or State