Hecla Mining To Acquire All Of Alexco That It Does Not Already Own

RTTNews | 1110 दिनों पहले
Hecla Mining To Acquire All Of Alexco That It Does Not Already Own

(RTTNews) - Hecla Mining Co. (HL) and Alexco Resource Corp. (AXU, AXU.TO) announced Tuesday a definitive agreement for Hecla to acquire all of the outstanding common shares of Alexco that Hecla does not already own.

Each outstanding common share of Alexco will be exchanged for 0.116 of a share of Hecla common stock implying consideration of US$0.47 per Alexco common share and a premium of 23%. Hecla will issue approximately 18 million common shares to Alexco shareholders.

In addition, Hecla will provide interim financing to provide working capital and ensure the development and exploration at Keno Hill continues to be advanced and subscribe for additional common shares bringing its ownership stake to 9.9%.

Hecla has also entered into an agreement with Wheaton Precious Metals Corp. (WPM) to terminate its silver streaming interest at Alexco's Keno Hill property in exchange for $135 million of Hecla common stock conditional upon the completion of Hecla's acquisition of Alexco.

Upon completion of both transactions, Wheaton Precious and Alexco shareholders will own approximately 5.6% and 3.0%, respectively, of the outstanding common shares of Hecla.

The Board of Directors of Alexco and Hecla have both unanimously approved the transaction. The Board of Directors of Alexco unanimously recommends that Alexco shareholders vote in favor of the transaction.

The Alexco-Hecla and WPM-Hecla transactions are each subject to applicable regulatory approvals and customary closing conditions. It is anticipated that the acquisition expected to close later that month.

read more
Swiss Franc Rises Against Majors

Swiss Franc Rises Against Majors

The Swiss franc advanced against its major counterparts in the New York session on Friday.
RTTNews | 14घंटे 15 मिनट पहले
Swiss Market Ends On Positive Note

Swiss Market Ends On Positive Note

Despite a couple of setbacks during the day's session, the Switzerland market managed to close modestly higher on Friday thanks to a few frontline stocks finding good support towards the closing minutes.
RTTNews | 14घंटे 35 मिनट पहले
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

Despite some fairly strong earnings updates, European stocks turned in a subdued performance on Friday on reports the U.S. President Donald Trump is looking to impose at least 15 to 20% tariffs on goods imported from the European Union irrespective even if a trade deal is arrived at.
RTTNews | 14घंटे 57 मिनट पहले
TSX Retreats After Hitting New High

TSX Retreats After Hitting New High

The Canadian market is down in negative territory in early afternoon trades on Friday, with stocks from communications, industrials and consumer discretionary sectors under pressure. However, the downside is limited as tariff concerns have eased a bit on reports that trade talks between Canada and South American countries, including Brazil and Argentina are in advanced stages.
RTTNews | 15घंटे 48 मिनट पहले
U.S. Consumer Sentiment Reaches Five-Month High In July

U.S. Consumer Sentiment Reaches Five-Month High In July

After reporting a substantial rebound by U.S. consumer sentiment in the previous month, the University of Michigan released a report on Friday showing a more modest improvement by consumer sentiment in the month of July. The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.
RTTNews | 17घंटे 59 मिनट पहले
U.S. Housing Starts Rebound More Than Expected In June

U.S. Housing Starts Rebound More Than Expected In June

New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday. The Commerce Department said housing starts surged by 4.6 percent to an annual rate of 1.321 million in June after plunging by 9.7 percent to a revised rate of 1.263 million in May.
RTTNews | 18घंटे 58 मिनट पहले