Barrick Announces Bought Deal Increased to $3.5 Billion

Barrick Gold Corporation announced today that it, in response to strong investor demand, has entered into an agreement to increase the size of its previously announced bought deal equity offering of approximately $3.0 billion (81.2 million common shares) to approximately $3.5 billion (94.8 million common shares) at a price of $36.95 per share. The offering is being led by a syndicate of underwriters,... 

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Pan American silver closes US$103 million public offering of common shares

Pan American Silver Corp. has closed its previously announced public offering of common shares. Pursuant to the Offering, the Company today issued 6,371,000 common shares at a price of US$16.25 per share, for aggregate gross proceeds of US$103,528,750 and total proceeds, net of underwriting fees, of US$98,611,134, including the exercise in full of the underwriters’ over-allotment option. The... 

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Precision Drilling Trust Provides Update on Acquisition Credit Facilities

Precision Drilling Trust announced the expected principal terms of the credit facilities with its banking syndicate, consisting of Royal Bank of Canada, RBC Capital Markets, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., HSBC Bank Canada, HSBC Bank USA, National Association and The Toronto-Dominion Bank. In conjunction with the proposed acquisition of Grey Wolf, Inc., and as... 

Sterling Announces Agreement Relating to Offshore Romanian Assets

Sterling Resources Ltd. announce that it has signed a Heads of Agreement with Melrose Resources plc relating to the Pelican XIII and Midia XV Blocks located in the Black Sea, offshore Romania. In exchange for a cash consideration and a carry on future investment, Melrose will acquire a 32.5% working interest in the Pelican XIII and Midia XV Blocks. Melrose will make a cash contribution of US $24-million... 

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Severstal Resources extends offer for shares of PBS Coals Limited

OAO Severstal, one of the world’s leading metals and mining companies, announced that 7027940 Canada Limited, an affiliate of Severstal, has extended the expiration date for its offer to purchase all outstanding shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation), at an offer price of C$8.30 cash per share, to 11:59 p.m. (Toronto time) on October 20, 2008. The Offer... 

Hecla Announces Pricing of Offering

Hecla Mining Company today announced that it has set the price for its public offering of 31 million shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 4 million shares of common stock to cover over-allotments, if any. The shares are being offered to the public at $5 per share. The offering is expected to settle and close on September 12,... 

Severstal Resources Reaches Agreement to Acquire PBS Coals

Through its mining division Severstal Resources, OAO Severstal announced that it intends to acquire the business of PBS Coals Corporation by way of an acquisition of Penfold Capital Acquisition Corporation following a business combination of PBS and Penfold for an all cash purchase price of C$8.30 per share, implying an enterprise value of US$1.3 billion. PBS is engaged in the mining, processing and... 

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Fording Canadian Coal Trust Announces Agreement to Sell All of Its Assets to Teck Cominco- Unitholders to Receive $14.1 Billion

Fording Canadian Coal Trust announced that it has entered into an agreement to sell all of its assets to Teck Cominco Limited by way of a plan of arrangement, pursuant to which Fording unitholders will receive $93.76 per unit payable in a combination of US$82.00 cash and 0.245 of a Teck Cominco Class B subordinate voting share per Fording unit. “We are pleased to be able to present Fording... 

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Birch Mountain pursues sale of Company

Birch Mountain Resources Ltd. announces that the Special Committee of independent directors and the Board have determined that it is imperative to pursue an immediate sale of the Company to unlock maximum value for its shareholders. The Company believes that the current lack of liquidity has compressed Birch Mountain’s share price to a level significantly below its underlying value. The Company... 

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Schlumberger Ltd; oil and gas exploration helped push its shares up 4 percent.

Schlumberger Ltd told the press that a better-than-expected jump in quarterly profit on Friday and the world’s largest oilfield services company gave an upbeat outlook for energy companies’ spending on oil and gas exploration that helped push its shares up 4 percent. Schlumberger Chief Executive, Andrew Gould, Citing customer response to higher prices, he repeated his longer-term view that...