Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Klondex Mines shares tick higher as shareholders approve Hecla transaction

Under the scheme, Hecla will acquire Klondex for US$462mln..
Klondex Mines shares tick higher as shareholders approve Hecla transaction
Klondex is focused on Nevada

Nevada-focused precious metals miner Klondex Mines Ltd (TSE:KDX,NYSE:KLDX) shares nudged higher as its proposed acquisition by Hecla announced in March this year received approval from Klondex shareholders.

Of Klondex shareholders and security holders who voted, around 99.61% Klondex voted in favour of the special resolution approving the plan of arrangement, the firm said.

Klondex owns the Fire Creek mine, the Midas mine and milling facility, and the Hollister mine, all in Nevada - a mining sweetspot.

As reported in March, under the scheme, Hecla will acquire Klondex for US$462mln. Its Canadian assets (in Manitoba) will be spun out to existing shareholders.

Klondex's shareholders will receive US$2.47 per share in cash or shares of Hecla, representing a big 59%premium to Klondex's 30-day volume-weighted average price, as of Friday (March 16), on the NYSE American.

Subject to customary conditions, the transaction is expected to close on or about July 20, this year.

Klondex shares in Toronto added 1.31% to C$3.10.

View full KDX profile View Profile

Klondex Mines Ltd Timeline

Related Articles

gold mine
September 07 2018
The company says it is on track to hit production targets for 2018 of 27,000 ounces of gold and 1.7mln ounces of silver
Gold fragments
SP Angel said the company could be “one of the top-yielding precious metals producers on the London market”
July 04 2018
“It is an exciting chapter Lionsgold is entering and we look forward to reporting on the company's many business opportunities and developments throughout the course of the year,” said chief executive Cameron Parry

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use