Oban Mining Corp. / OBM (TSX)

Read more at http://www.stockhouse.com/opin…rvive#EqepCshPLwcgCTyT.99

Zitat

(...) In short, a small cash balance doesn't go far. And it forces management to focus on raising money to pay its bills instead of exploring for gold to generate value for shareholders.

To survive, some of these companies are now consolidating.

Oban Mining Corp. (TSX: T.OBM, Stock Forum) said Tuesday it is launching share exchange takeover bids with each of Eagle Hill Exploration Corp. (TSX: V.EAG, Stock Forum) Temex Resources Corp. (TSX: V.TME, Stock Forum), Ryan Gold Corp. (TSX: V.RYG, Stock Forum) and Corona Gold Corp. (CSE: C.CRG, Stock Forum).

Oban will be the remaining company when the deal closes in August.

The deal came about when two mining gurus – Sean Roosen and Ned Goodman – decided to join forces.
Roosen is the CEO of gold-royalty firm Osisko Gold Royalties. He has worked in the precious-metals space for a long time, but his current company is relatively new. Roosen and his team formed it last year after selling their firm – Osisko Mining – to Yamana Gold and Agnico Eagle for almost $4 billion.

Since forming Osisko Gold, Roosen's group has been one of the few that continue to provide capital to junior miners.

Goodman is the CEO of holding company Dundee Corporation. He has been working or financing deals in the resource industry since the 1950s. In 2012, he was inducted into the Canadian Mining Hall of Fame.

Osisko Gold and Dundee have some common investments in Canadian junior gold miners. And they wanted to combine a portion of their holdings.

Roosen told Canada's Financial Post that a lot of "people have been talking about [consolidation]. We decided to do it."

So Roosen and Goodman set out to merge Ryan Gold (which both of their companies are involved with), Oban (which Osisko is involved with), Corona (which Dundee is the largest shareholder of), and Eagle Hill (which Dundee is also the largest shareholder of), and Temex. Temex has assets in Northeastern Ontario, close to some of the former Osisko Mining's projects.

Their goal was to "create an entity that's sustainable and has the ability to hopefully re-rate in the marketplace and move these projects to where they have to go," Roosen told the Financial Post.

The new company will control more than 280,000 acres of land... four projects... and more than 6 million ounces of gold resources. It expects to have a market cap of $122 million.

As part of the deal, Osisko will provide technical services, as well as legal and accounting support, to the new firm. And Osisko has said it will invest up to $20 million in the new company.

Assuming this, the new Oban will have $65 million in cash. It doesn't currently produce gold... but this cash hoard will put it in a good place to achieve its goal of becoming an intermediate gold producer.

It's not easy to bring five companies together, get them all to agree on terms, and close the deal. Since four companies cease to exist as part of this deal, a lot of people – many of them at the director and manager levels – will lose their jobs.

There's also no guarantee the new Oban will be a success. But the new company has a much better chance than the old ones.

Other junior miners will be watching closely to see how this turns out... and the more proactive ones will copy it. I expect we'll see more consolidations in the coming months.

And that's good news for junior-gold-miner investors...

You see, deals like this have to happen for the sector to recover.

As I said, right now, too many junior miners are just trying to keep the lights on.

Once these companies either consolidate to become more productive or go bankrupt, the remaining firms will be more efficient... able to focus on exploring and developing mines and rewarding shareholders.

In short, as more junior gold miners consolidate or leave the sector, investors will have better options to choose from. And we could likely see a bottom in these stocks. Resource investors may want to start looking into the sector. Just remember – these stocks can be risky. So treat any investments in this sector as speculations.

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Wir werden sehen, was daraus wird. Bin bei Temex drin bei 0,064 CA$ Mischpreis und deshalb natürlich sehr gespannt, wie sich dieser Anlauf jetzt entwickelt!

Gruß,
gutso

Zitat von Lexus

Habe kleine Pos EAG werde mich aber zur Zeit noch mit Explorerzukäufen zurückhalten obwohl Sean Rosen eigentlich weiss was er tut.( OSK DNA etc)

An einer Eagle Hill und Temex sieht man, was für eine Qualität das Projekt - sollte es so zustande kommen wie geplant - haben wird!

Eagle Hill hatte ich auf der Watchlist, - aber eben dann doch gemieden, stattdessen hatte ich Gowest Gold gekauft im März, weil ich vor dem Kauf nur noch auf Cash Positionen oder zumindest sich andeutende hohe Wahrscheinlichkeiten der Finanzierung achte, sobald die anderen Facts (hohe oder zumindest ökonomisch spannende Grades, Management, Oz/MC, etc) ohnehin alle passen. Auch Dundee waren bei mir kurz vorm Kauf, ich wollte dann aber lieber Explorer mit hohem Hebel.

Glückwunsch, EAG hat sich von den 5 ja aufgrund ihrer schwierigen Situation vor dem Angebot am besten kursmäßig entwickelt.

Hab mir eben den Chart angesehen: Hatten die eigentlich einen reverse Split oder waren die schon immer so hoch im Kurs?

Gruß,
gutso

PPS: Hier jedenfalls mal weitere Details der Vereinbarungen - und ganz am Schluss mal die Charts zu den entsprechenden hier besprochenen Werten - einzeln und zuletzt im Vergleich:

http://www.marketwatch.com/sto…=bigcharts&dist=bigcharts

Zitat

(...)
Oban Mining Corporation (OBM) ("Oban" or the "Company") is pleased to announce that it has entered into binding letter agreements providing for the launching of supported share exchange take-over bids with each of Eagle Hill Exploration Corporation (tsx venture:EAG) ("Eagle Hill"), Temex Resources Corp. (TME) ("Temex"), Ryan Gold Corp. (RYG) ("Ryan Gold") and Corona Gold Corporation (cse:CRG) ("Corona"). Oban has the option to revise the transaction structure for each bid and proceed by way of plan of arrangement should it conclude that is necessary or desirable. Completion of the transactions is subject to Toronto Stock Exchange ("TSX") approval. The combination of these five companies will create a leading Canadian focused gold exploration and development company (herein referred to as "New Oban").

In addition, Oban has agreed, subject to TSX approval, to complete a private placement (the "Private Placement") with Osisko Gold Royalties Ltd ("Osisko") whereby Osisko will invest up to $20M in common shares in the capital of Oban ("Oban Shares") at a price of $0.11 per Oban Share (the deemed net asset value per share value of Oban), provided that such investment shall not be for more than 19.9% of New Oban. The financing commitment includes the grant to Osisko of first rights to participate in royalties and streams to be created by New Oban, pro rata financing participation rights and the right to nominate three directors to the board of New Oban. For a period of five years from the date of closing of the Private Placement, Osisko will have a one-time right, should New Oban seek financing through the debt or equity markets, to provide first financing to Oban equal to $5 million in exchange for the granting by Oban of a 1% NSR over such properties as are wholly owned by Oban immediately following completion of the Private Placement.

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(...)
The transaction brings together mining industry leaders Sean Roosen and Ned Goodman as Co-Chairs of the new board of directors, together with Patrick F. N. Anderson, John Burzynski, Murray John, Rene Marion, Keith McKay, Jose Vizquerra, Robert Wares and David Christie. Management changes will see the current Chairman of Oban, John Burzynski, appointed President and Chief Executive Officer of New Oban, while Jose Vizquerra, current President and Chief Executive Officer of Oban, will become Senior Vice President and Chief Operating Officer of New Oban.

Eagle Hill President and CEO David Christie stated: "Windfall Lake is a strong asset and is ready for the next stage of investment to move it towards feasibility and development. With this transaction our shareholders not only receive an excellent premium, but will also gain access to a well-funded company run and directed by one of the top exploration and mining groups in the Canadian mining industry. The Osisko group's experience in exploration, development and mining success in Quebec is unparalleled."

Temex Resources Corp. President and CEO Ian Campbell commented, "This is a great opportunity for our shareholders as not only will our core exploration projects of Whitney and Juby be well funded, but our shareholders will be provided with the opportunity to gain immediate exposure to other excellent exploration and pre-development assets. On behalf of the Board of Directors and Temex management, we are delighted to offer our shareholders the once in a lifetime opportunity to participate in what we envision is the birth of a new Canadian mining house led by the elite of our industry."

Ryan Gold President and CEO Mark Goodman stated: "As President and CEO of Ryan Gold I am very pleased to bring this opportunity to our shareholders to join what I feel has the potential to be the start of an outstanding Canadian mining company. Our shareholders will have the opportunity to come into New Oban with a premium on our current share price and participate in what I have no doubt will be a well-led, well-financed and success-oriented new Canadian mining story. We are proud to be partners in this new company."

Corona President and CEO Murray John commented: "We are pleased to offer Corona shareholders the opportunity to join New Oban. Corona shareholders are being offered a significant premium and more importantly have the opportunity to participate in what will become one of the best-funded, exploration and development companies in Canada. Our Board unanimously recommends acceptance of the offer."

Particulars of the Transactions

In relation to Eagle Hill, Oban has agreed to offer Eagle Hill shareholders 10.0 Oban Shares in exchange for each common share of Eagle Hill. The offer will provide Eagle Hill shareholders with a premium of 258% to the 15-day volume weighted average price ("VWAP") of Eagle Hill on the TSX Venture Exchange ending on June 8 2015. Additionally, each shareholder of Eagle Hill will receive five (5) common share purchase warrants of Oban (each a "Warrant") per common share of Eagle Hill. Each Warrant will entitle the holder thereof to purchase one Oban share at a price of $0.15 per Oban share, for a period of 36 months following the closing date. Oban will make an application to the TSX to list the Warrants. Pursuant to the transaction, existing Eagle Hill warrants will become exercisable into the transaction consideration. Shareholders of Eagle Hill representing 57% of the common shares of Eagle Hill have entered into lock-up agreements with Oban in support of the transaction.

In relation to Temex, Oban has agreed to offer Temex shareholders 0.780 of an Oban Share in exchange for each common share of Temex. The offer will provide Temex shareholders with a premium of 35% to the 15 day VWAP of Temex on the TSX Venture Exchange ending on June 8 2015. Shareholders of Temex representing 1% of the common shares of Temex have entered into lock-up agreements with Oban in support of the transaction.

In relation to Ryan Gold, Oban has agreed to offer Ryan Gold shareholders 1.880 Oban Shares in exchange for each common share of Ryan Gold. The offer will provide Ryan Gold shareholders with a premium of 69% to the 15-day VWAP of Ryan Gold on the TSX Venture Exchange ending on June 8 2015. Shareholders of Ryan Gold representing 29% of the common shares of Ryan Gold have entered into lock-up agreements with Oban in support of the transaction.

In relation to Corona, Oban has agreed to offer Corona shareholders 7.671 Oban Shares in exchange for each common share of Corona. The offer will provide Corona shareholders with a premium of 146% to the 15-day VWAP of Corona on the TSX Venture Exchange ending on June 8 2015. Shareholders of Corona representing 45% of the common shares of Corona have entered into lock-up agreements with Oban in support of the transaction.

New Oban will have approximately 1,105.9 million common shares outstanding on a post-consolidation basis and will have an estimated market capitalization of approximately $122 million (based on post-consolidation trading price of $0.11/share, which corresponds to the deemed net asset value per share value of Oban agreed for the purposes of the transactions). Upon closing of the transactions, and prior to giving effect to the Private Placement by Osisko, the ownership percentages of each group will be as follows: Eagle Hill (28%), Temex (16%), Ryan Gold (24%) and Corona Gold (19%). Following the combination, it is estimated that Osisko and Dundee will own approximately 18% and 15% of New Oban, respectively.
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BonTerra Private Placement

As part of the consolidation of the Urban Barry Camp, Oban has entered into an agreement to acquire 19.9% of the common shares of BonTerra Resources Inc. ("BonTerra") at a price of $0.22 per share. The private placement is conditional upon the entry into a subscription agreement and satisfactory due diligence by Oban. Upon closing, Oban will have the right to nominate one member to BonTerra's Board of Directors.
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