Peru's Hochschild Mining has agreed to purchase via private placement an additional 2.74mn common shares of Vancouver-based EXMIN Resources, the companies said in separate statements.
After completing the transaction Hochschild (LSE: HOC) will have increased its stake in the Canadian miner by some 3.05% to 19.9%.
Each EXMIN (TSX-V: EXM) share will be sold at Cdn$0.40.
The transaction is expected to close on or around December 14.
Proceeds of the placement will be used at the Moris Mine in Mexico, which poured its first gold-silver dore in October and is jointly owned by Hochschild with 70%, with EXMIN holding the remaining 30%.
Publication: Business News Americas - English News
Provider: Business News Americas
Date: December 10, 2007
12/10/07
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment