M&As this week: Magmatic Resources, Mineral Resources Limited, Metso Corporation

13 April 2018 (Last Updated April 13th, 2018 09:54)

Australian gold and copper explorer Magmatic Resources has agreed to acquire Landslide Investments.

Australian gold and copper explorer Magmatic Resources has agreed to acquire Landslide Investments.

Landslide Investments is the owner of the yamarna gold project and is also based in Australia.

The acquisition is set to include various gold exploration licenses situated within the yamarna gold project, which is located in Western Australia.

Mineral Resources Limited (MRL) has agreed to acquire all shares in Atlas Iron under a scheme of arrangement.

Atlas shareholders are expected to receive one new MRL share for every 571 Atlas shares currently held as part of the transaction.

Atlas shareholders will hold approximately 8.2% of the total issued share capital in the combined group following the completion of the acquisition.

MRL is a mining company, while Atlas is primarily engaged in the exploration, development and production of iron ore.

“Resource Capital Fund VII has acquired 19.99% of the issued and outstanding common share capital in Orezone Gold for a sum of C$33.64m ($26.61m).”

Both companies involved in the transaction are based in Australia.

MRL has engaged Gilbert + Tobin Services as legal adviser for the transaction.

Metso Corporation has agreed to acquire PJ Jonsson & Soner.

Metso Corporation is a provider of equipment and services for the mining and recycling industry, while PJ Jonsson & Soner is a Swedish company engaged in the supply of mobile crushing and screening plants.

Resource Capital Fund VII has acquired 19.99% of the issued and outstanding common share capital in Orezone Gold for a sum of C$33.64m ($26.61m) through a non-brokered private placement arrangement.

The transaction involves the purchase of 42.06 million common shares in Orezone Gold, priced at C$0.8 ($0.63) a share.

US-based Resource Capital Fund VII is a private equity firm, while Orezone Gold is a gold exploration company based in Canada.

OZ Minerals Brazil (Holdings) has reached an agreement to acquire the entire stake in Avanco Resources.

The acquirer company is a Brazilian subsidiary of copper exploration company OZ Minerals, while Australia-based Avanco Resources specialises in the exploration and development of base metal properties.