Tag Archives: Nevsun M&A

Nevsun to Acquire Reservoir Minerals for $365m

TimokCopper
The acquisition will transform Nevsun from Junior miner to mid-tier base metals company. Reservoir Minerals Inc. is a Canadian based company progressing the Timok Copper Gold Project representing four exploration permits in the highly prospective Timok Magmatic Complex in eastern Serbia.

By Reuters,

Canadian miner Nevsun Resources Ltd (NSU.TO) said it has agreed to buy Reservoir Minerals Inc (RMC.V) for about $365 million in cash and stock.

Nevsun, which owns the Bisha copper-zinc mine in Eritrea, will pay two shares of Nevsun and $0.001 in cash for each Reservoir share, the company said on Sunday.

The deal values Reservoir shares at C$9.401 each, representing a 35 percent premium to its last close, based on Nevsun stock’sFriday closing price. Continue reading Nevsun to Acquire Reservoir Minerals for $365m