M&As this week: New Talisman Gold Mines, Central Asia Metals
New Talisman Gold Mines has acquired Newcrest New Zealand Exploration, a subsidiary of Newcrest Mining.
Newcrest New Zealand Exploration owns 80% stake in the Rahu Project, located to the north of the Karangahake Gorge, while the remaining stake is held by New Talisman Gold Mines.
New Talisman Gold Mines is a New Zealand-based company engaged in the production and exploration of gold and silver metals, while Newcrest New Zealand Exploration is involved in the exploration and operating of gold, silver, copper, lead, molybdenum, iron and zinc mines.
New Talisman Gold Mines was formerly known as Heritage Gold NZ, while New Zealand Exploration used to be called Horskar.
UK-based mining and exploration company Central Asia Metals (CAML) has agreed to acquire 100% stake in Lynx Resources from Orion Co-Investments III and Fusion Capital for $402.5m.
CAML proposes to use a combination of debt and equity financing, and a $12m deferred consideration to fund the acquisition.
Based in Bermuda, Lynx Resources owns the SASA zinc-lead mine in Macedonia. Orion Co-Investments is a US-based private equity fund, while Fusion Capital is a private equity firm based in Switzerland.
CAML has engaged JP Morgan Cazenove as the financial advisor, Peel Hunt as the nominated advisor and joint broker, and Blytheweigh as its public relations advisor.