https://www.engineeringnews.co.za

Altona deal approved; shares to stop trading

4th April 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The Australian Federal Court has approved the merger between ASX-listed Altona Mining and TSX-listed Copper Mountain Mining Corporation.

The A$93-million deal, which was launched by Copper Mountain in November, has already been approved by both sets of shareholders.

Copper Mountain was offering 0.0974 of either a chess depositary interest of Copper Mountain or a Copper Mountain common share, for each Altona share held.

The takeover target reported this week that the company’s share trading on the ASX would be suspended from the close of trading on April 4, while trading of Copper Mountain’s chess depositary shares would start shortly.

Copper Mountain’s principal asset is the 75%-owned large openpit Copper Mountain mine, near Princeton, in southern British Columbia, which is forecast to produce 34 000 t to 38 500 t of copper this year, while Altona holds the undeveloped Cloncurry copper project, in Queensland.

Edited by Creamer Media Reporter

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.127 0.183s - 156pq - 2rq
Subscribe Now