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Announced

Capstone Mining to acquire a 30% stake in Santo Domingo project from Korea Resources for $120m.

Financials

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Transaction Value£87m
Consideration TypeCash
Capital Owned-
Capital Bid For30%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Cross Border

Pending

Friendly

Majority

Single Bidder

mining

Acquisition

Chile

General Mining

Private

Synopsis

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Capstone Mining, a Canadian base metals mining company, agreed to acquire a 30% stake in Santo Domingo project from Korea Resources, mineral resources development, mineral information service and mineral research corporation, for $120m in three cash payments over the next four years including an initial payment of $30m. “The gold stream and port agreements are key steps in our reduced capital strategy which aims to decrease the capital required by a target of $700m. The consolidation of 100% ownership of the project allows Capstone to efficiently engage in discussions with potential strategic partners. KORES is a large shareholder and they believe the company is at the forefront of significant copper growth,” Darren Pylot, Capstone President and CEO.

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