Fronteer Gold/Newmont Mining
On February 3, 2011, Newmont Mining Corporation (NYSE: NEM) announced a agreement to acquire Fronteer Gold Inc. (Amex: FRG) for C$14 per share in cash, or approximately Cdn$2.3 billion (approximately USD$2.33 billion).
Under the Plan of Arrangement, shareholders of Fronteer Gold will receive C$14.00 (USD$14.18) in cash and one common share in a new company, which will own certain exploration assets of Fronteer Gold, for each common share of Fronteer Gold.
Fronteer Gold owns a 100% interest in the development-stage Long Canyon project, which is located approximately one hundred miles from Newmont's existing infrastructure in Nevada. The project has measured and Indicated resources of approximately 1.4 million gold ounces and an additional Inferred resource of approximately 0.8 million gold ounces.
Closing is expected in Q211.
Newmont's financial advisor is BMO Capital Markets, and its legal counsel are Goodmans LLP and Wachtell, Lipton, Rosen & Katz.
Fronteer Gold's financial advisor is RBC Capital Markets, and its legal counsel is Davies Ward Phillips & Vineberg LLP.
Under the Plan of Arrangement, shareholders of Fronteer Gold will receive C$14.00 (USD$14.18) in cash and one common share in a new company, which will own certain exploration assets of Fronteer Gold, for each common share of Fronteer Gold.
Fronteer Gold owns a 100% interest in the development-stage Long Canyon project, which is located approximately one hundred miles from Newmont's existing infrastructure in Nevada. The project has measured and Indicated resources of approximately 1.4 million gold ounces and an additional Inferred resource of approximately 0.8 million gold ounces.
Closing is expected in Q211.
Newmont's financial advisor is BMO Capital Markets, and its legal counsel are Goodmans LLP and Wachtell, Lipton, Rosen & Katz.
Fronteer Gold's financial advisor is RBC Capital Markets, and its legal counsel is Davies Ward Phillips & Vineberg LLP.
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