{"id":653583,"date":"2018-03-27T12:55:22","date_gmt":"2018-03-27T12:55:22","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=653583"},"modified":"2018-03-27T12:55:22","modified_gmt":"2018-03-27T12:55:22","slug":"copper-mountain-gains-approval-for-71m-acquisition-of-altona-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=653583","title":{"rendered":"Copper Mountain gains approval for $71m acquisition of Altona"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Canada’s Copper Mountain Mining (TSX: CMMC) has obtained shareholder approval<\/a> for its planned acquisition of Australian junior Altona Mining (ASX:AOH) in a deal worth A$93 million, or about $71m at today’s rates.<\/p>\n

Under the agreement, each Altona share will be exchanged for 0.0974 Copper Mountain shares, which equates to a 41.7% premium based on closing prices at the time of both companies first agreed on the deal, in November<\/a>.<\/p>\n

The transaction, qualified as a merger, gives Copper Mountain access to Altona’s assets, which include $30 million in cash, a permitted development project in Queensland, Australia and a large mineral land tenure position in the highly prospective area.<\/p>\n

Copper Mountain’s main asset is the 75%-owned Copper Mountain open pit mine, in southern British Columbia, which is forecast to produce between 34,000 and 38,500 tonnes of the red metal this year<\/p>\n

The combination of the two companies will result in a mid-sized copper miner, with an expected annual production of about 73,000 tonnes of the metal.<\/p>\n

The transaction is expected to close by mid-April 2018, subject to applicable regulatory approvals.<\/p>\n

The post Copper Mountain gains approval for $71m acquisition of Altona<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post Copper Mountain gains approval for $71m acquisition of Altona<\/a><\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Cecilia Jamasmie Canada’s Copper Mountain Mining (TSX: CMMC) has obtained shareholder approval for its planned acquisition of Australian junior Altona Mining (ASX:AOH) in a deal worth A$93 million, or about $71m at today’s rates. Under the agreement, each Altona share will be exchanged for 0.0974 Copper Mountain shares, which equates to a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/653583"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=653583"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/653583\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=653583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=653583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=653583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}