Proactiveinvestors recommends
Additional Information
Market: TSX-V
Sector: General Mining - Gold
EPIC: SCM
Latest Price: C$0.09  (0,00%)
52-week High: C$0.45
52-week Low: C$0.09
Market Cap: C$3.96M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Sacre-Coeur Minerals
www.scminerals.com

Sacre-Coeur Minerals Ltd.  (TSX-V: SCM) is a Canadian Junior Mining company engaged in the acquisition, exploration and production of gold and other metals in South America. The company is currently focused  on its gold properties in Guyana, a miner-friendly country with a stable government where the Company holds 100% interest in approximately 978 square kilometers of mineral concessions.

Full Sacre-Coeur Minerals profile here
Is SCM a Buy, Sell or Hold?Get your FREE analysis of SCM
Pdf

Sacre-Coeur Minerals gives Severstal two-week extension for due diligence on $77m takeover deal

2nd Feb 2011, 9:51 am

South America-focused gold explorer Sacre-Coeur Minerals (TSX-V:SCM) said Tuesday it has given affiliates of Severstal (LSE: SVST; RT: CHMF), Russia's largest steel producer, a two week extension to complete due diligence for the planned C$77 million acquisition of Sacre Coeur.

According to a company statement released today, due diligence is still proceeding, together with the preparation of the required documentation for closing the C$1.60 per share transaction, which is still subject to court and shareholder approvals, as well as other customary conditions.

The deadline to complete the due diligence on the company has now been extended to February 14, 2011, and both parties said they aim to close the deal by mid April.

The deal, which was announced in September, was originally supposed to close three days after a special shareholder meeting in November, as Sacre Coeur's board has already approved the transaction. New dates for the stockholder meeting have still not been set; Sacre Coeur said that a further update will be provided when this occurs.

Sacre-Coeur explores and develops properties for the potential mining of gold, metals and diamonds in South America. The company has roughly 1000 sq km of property in Guyana, including the Million Mountain property, where it is exploring for gold.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). 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.