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Friday, 4th May 2007 (4520 views)

US mining group Coeur D'Alene has announced that it will be purchasing operations in Australia and Mexico totalling some $1.1 billion (£553 million).

The group's acquisition of Bolnisi Gold NL and Palmajero Silver and Gold will see the respective operations receiving 0.682 and 2.715 shares for each of their own shares.

Bolnisi and Palmajero shareholders will also be receiving three-tenths of a cent per share they own.

In order to pay for the deal, which represents the group's first project in Mexico, Coeur d'Alene is mooting the listing of its shares on the Australian Stock Exchange.

The transaction is expected to be completed during the third quarter of this year, with Coeur d'Alene also building a gold mine in Alaska.

The group also owns three operations in North and South America as well as mineral reserves in Australia.

 

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