Posted in | Copper | Mining Business

Capstone Mining Plans $1 Billion of New Acquisitions

Capstone Mining is ready to spend Canadian $1 billion to acquire new copper assets as it wishes to double its copper output. The Vice President of the company Brad Mercer said on Monday that the company was scouting for new acquisitions to increase its size and scale of copper production.

Mr Mercer was speaking with potential investors at the Prospectors and Developers Conference in Toronto. He said that the company was looking out for a merger of equals. He said that they were very aggressively looking at M&A opportunities.

He added that the company would prefer to get involved with a company that already had assets in the Americas. He wanted to let the investors know that the company had Canadian $200 million in cash and was willing to take on debt to acquire a property for less than one billion and develop it.

Capstone currently has assets in Mexico and the Yukon Territory in Canada. The company has a market capitalization of Canadian $1 billion. It is looking for a rival with assets that are at an earlier stage of development that it’s own and is roughly the same size in terms of market capitalization to merge with.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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