- Bloomberg•last year
OceanaGold Corp. agreed to buy Romarco Minerals Inc. in a deal worth C$856 million ($660 million) to gain control of its bullion project in South Carolina. OceanaGold will pay 0.241 of its shares for every one in Romarco, the Melbourne-based company said in a statement on Thursday. A decline in the price of gold, which last week fell to the lowest since February 2010, is spurring deals after valuations tumbled.
- Reuters•last year
Australian-Canadian miner OceanaGold Corp has agreed to buy Romarco Minerals Inc for around C$856 million ($657.20 million), getting its hands on a low-cost gold mine that is being built in a low-risk jurisdiction. OceanaGold shareholders will end up with 51 percent of the enlarged company, and Toronto-listed Romarco the rest. OceanaGold brings to the deal free cash flow from its existing operations and access to lower-cost financing that will help to fund construction of the Haile mine at a time when mine financing is expensive due to weak metals prices.
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RTRAF : Summary for ROMARCO MIN INC NEW - Yahoo Finance
ROMARCO MIN INC NEW (RTRAF)
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