Palladium One grows critical minerals assets with MetalCorp deal
Toronto-based Palladium One Mining is growing its portfolio of critical mineral assets with the acquisition of MetalCorp in an all-share transaction valued at C$3.3-million.
Shareholders in TSX-V-listed MetalCorp will receive 0.30 of a common share in the capital of Palladium One, implying a purchase price of C$0.026 a share.
“This transaction advances our strategy of creating value by responsibly, establishing a partnership with a senior producer and growing a portfolio of critical mineral assets in Canada in support of North American critical mineral supply chains, and it also increases liquidity,” commented Palladium One CEO Derrick Weyrauch.
Palladium One will maintain the earn-in agreement in favour of Barrick Gold on MetalCorp’s Hemlo East project, adjacent to Barrick’s Hemlo gold mine, in Ontario.
MetalCorp’s assets include two critical mineral projects located in Ontario, including the North Rock copper/nickel project and the Big Lake BL-14 copper/zinc/gold/silver VMS-style project.
Upon completion of the transaction, Palladium One will have district-scale road-accessible massive sulphide, magmatic nickel/copper projects in Ontario, Yukon and Finland.
MetalCorp CEO Donald Sheldon commented that the transaction reflected a premium of 28% for MetalCorp shareholders, based on the TSX-V closing prices of each company on the day the agreement was signed.
“We are pleased to be combining MetalCorp’s business with Palladium One.
“Like MetalCorp, Palladium One has an excellent suite of properties including gold, PGEs, copper - nickel and a strong cash position,” he added.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
