• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Company Market
    Company News
    Company Stocks
    • Company Market
    • Company News
    • Company Stocks

    Tahoe Resources to Buy Rio Alto Mining

    Charlotte McLeod
    Feb. 09, 2015 11:48AM PST
    Company News

    Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) and Rio Alto Mining Ltd. (TSX:RIO,NYSE:RIOM) announced that they have entered into a definitive agreement to combine their businesses.

    Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) and Rio Alto Mining Ltd. (TSX:RIO,NYSE:RIOM) announced that they have entered into a definitive agreement to combine their businesses. They believe the move will create a “new, leading intermediate precious metals producer.”

    As quoted in the press release:

    The combined company offers shareholders significant low cost production from the world-class Escobal silver mine in Guatemala and the established La Arena gold mine in Peru, in addition to long-term sustainable growth fueled by the development of the Shahuindo gold project with first production expected in early 2016. With strong operating margins and low capital risk, the combined company will boast industry-leading free cash flow generation, superior financial returns and a strong balance sheet with zero net debt. In addition, the combined company will benefit from a top-tier management team focused on delivering long-term shareholder returns.

    Under the terms of the Arrangement Agreement, all of the Rio Alto issued and outstanding common shares will be exchanged on the basis of 0.227 of a Tahoe common share and C$0.001 in cash per Rio Alto share (Exchange Ratio). Upon completion of the Transaction, existing Tahoe and Rio Alto shareholders will own approximately 65 percent and 35 percent of the combined company, respectively.

    Kevin McArthur, Tahoe’s vice chair and executive director, commented:

    The combination of Tahoe and Rio Alto is designed to create a stronger and better positioned company going forward. In addition to diversifying our asset base into one of the most attractive precious metal producing regions in the world, this transaction establishes a strong platform for future growth.

    Click here to read the full Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) and Rio Alto Mining Ltd. (TSX:RIO,NYSE:RIOM) press release. 

    kevin mcarthurnyse:tahotsx:riotsx:thonyse:riom
    The Conversation (0)

    Go Deeper

    AI Powered

    Rio Tinto

    Gold nuggets on top of a map beside a compass.

    Alamos Gold to Acquire Argonaut Gold in US$325 Million Deal

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×