Posted in | News | Gold | Copper

Stillwater Mining to Acquire Canadian Miner Peregrine Metals

By Joel ScanlonJul 12 2011

Stillwater Mining Co is to acquire the Canadian company Peregrine Metals for $450 million. This will allow Stillwater Mining to diversify into copper and gold as the Vancouver based Peregrine Altar owns a copper/gold project in the San Juan province in Argentina.

The large and undeveloped project has a measured and indicated resource of 7.4 billion pounds of copper and 1.5 million ounces of gold. Stillwater is paying 0.08136 shares of Stillwater common stock and $1.35 in cash for each common share of Peregrine. Stillwater and Peregrine shareholders will own about 89.5 % and 10.5 % of the combined company.

Stillwater Chief Executive Frank McAllister said in a statement that for several years, one of Stillwater's primary strategic goals has been to grow and diversify our business through the acquisition and development of high-quality mining assets. He added that the takeover will improve its strategic positioning and growth pipeline.

Stillwater Mining owns the Stillwater and East Boulder mines in Montana, the Blitz and Graham Creek projects in Montana and the Marathon project in Ontario. All the mines are platinum group metal projects. With the Altar mine in Argentina the company will get broader diversification into copper as well as meaningful exposure to gold as per Mr McAllister.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, March 19). Stillwater Mining to Acquire Canadian Miner Peregrine Metals. AZoMining. Retrieved on April 26, 2024 from https://www.azomining.com/News.aspx?newsID=4467.
MLA
Scanlon, Joel. "Stillwater Mining to Acquire Canadian Miner Peregrine Metals". AZoMining. 26 April 2024. <https://www.azomining.com/News.aspx?newsID=4467>.
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Scanlon, Joel. "Stillwater Mining to Acquire Canadian Miner Peregrine Metals". AZoMining. https://www.azomining.com/News.aspx?newsID=4467. (accessed April 26, 2024).
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Scanlon, Joel. 2019. Stillwater Mining to Acquire Canadian Miner Peregrine Metals. AZoMining, viewed 26 April 2024, https://www.azomining.com/News.aspx?newsID=4467.