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Nyrstar NV

Nyrstar NV (NYR)

0.0708
-0.0032
(-4.32%)
Closed March 28 12:30PM

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mediscience mediscience 9 years ago
nyrstar world leader in Zn, has more than 4,600 employees...
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moneyday moneyday 13 years ago
Nyrstar To Acquire Farallon Mining In C$400 Million Deal
Nyrstar (D) (EU:NYR)
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2 Months : November 2010 to January 2011
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Belgian zinc and lead mining company Nyrstar NV (NYR.BT) will acquire Vancouver-based Farallon Mining Ltd. (FRLIF, FAN.T) for C$400 million, the companies said Monday.

Nyrstar agreed to pay 80 Canadian cents a share in cash for Farallon, which operates a multi-metal zinc mine in southern Mexico. The offer represents a 23% premium over the 65-cent closing price of Farallon shares on the Toronto Stock Exchange.

Farallon's executives and directors have endorsed the deal, and entered lock-up agreements to vote in favor of the transaction, representing 19% of outstanding shares.

The deal requires a two-thirds vote of Farallon shareholders. Farallon agreed to a C$12 million termination fee if it breaks off the deal to accept a superior offer.

Farallon's G-9 mine, located in Mexico's southern Guerrero state, was completed in July 2008 and began commercial production in April last year. The mine's targeted annual production is 120 million pounds of zinc, 15 million pounds of copper, 6 million pounds of lead, 1.5 million ounces of silver and 14,500 ounces of gold.

-By Edward Welsch, Dow Jones Newswires; 403-229-9095; edward.welsch@dowjones.com
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moneyday moneyday 13 years ago
Upcoming stock, adds new mines to its inventory.
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