Vancouver’s Silver Standard to buy Claude Resources

Vancouver's Silver Standard Resources is acquiring fellow Canadian miner Claude Resources | Photo: Claude Resources

Silver Standard Resources (TSX:SSO) is buying fellow Canadian miner Claude Resources (TSX:CRJ) in a friendly deal that values the seller at $337 million, or $1.65 a share.

Vancouver-based Silver Standard announced Monday (March 8) it’s funding most of the deal for the Saskatoon miner through its own shares.

Claude Resources shareholders will own 32% of the combined company when the deal closes. Shareholders will be voting in mid-May whether to give the sale the greenlight.

The sale would give Silver Standard control of the two gold mines Claude Resources operates in northeastern Saskatchewan.

Shares of Claude Resources jumped to $1.54 when markets opened Monday morning, up from its Friday close of $1.27.

torton@biv.com

@reporton

comments powered by Disqus

More from Mining & Energy

Yukon may want to tap Site C power

Yukon Energy and Mines minister says new mines in would require additional power

Read Article

B.C.’s first oil and gas land sale of 2018 nets $12.9 million

Industry purchased a total of 39,005 hectares at an average price of $328.25 for the month

Read Article

NEB to expedite resolution of permit disputes on Trans Mountain

Energy regulator sets up dispute resolution process for Trans Mountain pipeline

Read Article

BIV on Global BC January 18, 2018: Kinder Morgan delays; Apple to ...

Tyler Orton discusses delays costing Kinder Morgan $75m per month in earnings. Plus: Apple to pay $38b in U.S. taxes to open a second campus

Read Article

Delays cost Kinder Morgan $75 million each month in earnings

In service date for twinned pipeline could be a year behind schedule

Read Article

Subscribe to our mailing lists

You may withdraw your consent at any time.

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
Business in Vancouver Media Group
303 West 5th Avenue, Vancouver, British Columbia
V5Y 1J6 · Canada
604-688-2398
×