KWG sells chrome smelter royalties for $18m

TSX V-listed KWG Resources on Tuesday said it agreed to sell smelter royalties in three of its chrome deposits in Northern Ontario’s Ring of Fire to Anglo Pacific Group for $18-million. KWG owns 28% of the Big Daddy chrome project, with US...

High carbon ferrochrome produced in KWG test melt

A test melt produced the first high carbon ferrochrome at TSX-listed KWG Resources’ Big Daddy chromite project in Canada on Thursday morning. The pilot plant test was conducted at the Xstrata Process Support facility in Falconbridge, which was...

KWG agrees to sell Spider shares to Cliffs

Canadian junior KWG Resources has notified Cliffs Natural Resources that it will accept the bigger firm's offer of $0,19 a share for its small interest in Spider Resources, KWG said on Wednesday. The company has decided to terminate its dissent...

Cliffs owns 85% of Spider, to buy out minorities

US-based Cliffs Natural Resources has increased its holding in Canadian junior Spider Resources to 85%, and will go ahead with a transaction to buy the remaining shares in Spider, the firm said on Tuesday. Cliffs' C$0,19 a share offer for Spider...

Best still to come for Ring of Fire discoveries – Noront

Canada's bustling Ring of Fire mining camp is still in its infancy, and the big discoveries there are yet to be unearthed, the CEO of Toronto-based Noront Resources said on Thursday. “It's still a very early stage exploration camp and the major...

Cliffs owns 81,8% of Spider Resources

US-based Cliffs Natural Resources has taken up 195,5-million shares of Spider Resources, which were tendered by July 16 into its takeover offer for the smaller company. When combined with its previous holdings, Cliffs now owns about 81,8% of...

KWG plans to retain shares in Spider

Canadian junior KWG Resources would not tender the shares it held in Spider Resources to Cliffs Natural Resources, with which it battled for control of Spider up until last week. The exploration company told its shareholders on Friday that, based...

Cliffs owns 52,1% of Spider, extends offer

US-based Cliffs Natural Resources has extended the deadline for Spider Resources shareholders to take up its takeover offer, after securing a 52,1% interest in the Canadian junior. The miner on Tuesday said that it has taken up about 316-million...

Spider backs Cliffs deal after breaking merger pact with KWG

Canadian junior Spider Resources has terminated its merger agreement with KWG Resources and has agreed to support US-based Cliffs Natural Resources’ takeover offer. KWG and Cliffs have been battling it out in recent weeks to gain Spider’s...

Cliffs’ bid for Spider provides ‘value certainty’ – adviser

Independent proxy advisory firm RiskMetrics has said that a vote against a merger with KWG Resources would be warranted by Spider Resources shareholders, saying that Cliffs Natural Resources’ all-cash offer provided value certainty. KWG and...

KWG says Cliffs bid for Spider not superior to its proposal

A special committee comprising the board of junior miner KWG Resources has determined that Cliffs Natural Resources' sweetened offer for Spider Resources was not superior to its proposal for a merger. This followed after Cliffs had once again...

KWG gets conditional approval to merge with Spider

The TSX Venture Exchange has granted junior miner KWG Resources conditional approval to merge with fellow Canadian junior Spider Resources, the latest development in the battle for control over an attractive chromite deposit located in the 'Ring...