M&As this week: Blackrock, Mountain Province Diamonds, Mintails

2 February 2018 (Last Updated February 2nd, 2018 09:19)

Blackrock has increased its stake in Hecla Mining from 3.75% to 6.5%, an increase of 2.75%.

Blackrock has increased its stake in Hecla Mining from 3.75% to 6.5%, a rise of 2.75%.

With the acquisition, Blackrock will gain sole voting power on approximately 96.6% of shares of Hecla.

Both companies involved are based in the US.

Blackrock is an investment management company, while Hecla Mining is engaged in silver and metal extraction.

Mountain Province Diamonds has entered an agreement to acquire the entire issued and outstanding common shares of Kennady Diamonds for C$176.15m ($142.86m).

The transaction will involve the acquisition of 50.91 million shares of Kennady Diamonds for C$3.46 ($2.80) a unit.

“The transaction will involve the acquisition of 50.91 million shares of Kennady Diamonds for $2.80 a unit.”

Both companies involved in the transaction are based in Canada and are involved in diamond exploration.

Mintails has reached an agreement with Rolen and Merrysoul to acquire Orminex West, which holds an option to acquire 51% of the Comet Vale gold project in north-west Kalgoorlie.

Mintails will issue 100 million shares each to Rolen and Merrysoul, priced at A$0.03 ($0.02) a unit, to raise aggregate proceeds of A$6m ($4.82m).

All companies involved in the transaction are based in Australia.

Mintails is involved in mineral exploration, with a focus on gold properties in Witwatersrand, South Africa.