Ubika Research’s Mining 20 Index component Curis Resources has become the seventh company to be taken over since Ubika launched both its Gold and Mining reports. The acquisition follows other notable component acquisitions including Sulliden Gold, Avion Gold, Gold-Ore Resources, PMI Gold, Rainy River Resources and RX Gold & Silver.
The friendly deal has Taseko Mines acquiring all outstanding shares of the company. Curis Resources’ key asset was its 100%-owned Florence copper project in Arizona. The project is at an advanced-stage, has a high-quality asset with large copper reserves as well as a favourable operating cost structure.
Under the terms of the Agreement, holders of Curis shares will receive 0.438 of a Taseko common share for each Curis common share held, representing consideration of $1.055 per Curis share, which is a 21% premium based on Curis’ 20-day volume-weighted average price for the period ended September 8, 2014. The deal received final approval on November 17. Look to this month’s issue of the Ubika Mining 20 for Curis’ replacement in the Report.
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