The mining newspaper for Alaska and Canada's North

NovaCopper arranges creative financing

Junior offers to buy out cash-rich Columbia-focused explorer; directors, major shareholders of both companies sign off on deal

In a move that provides the cash needed to advance a feasibility study for the Arctic project in Northwest Alaska, NovaCopper has agreed to purchase Sunward Resources Ltd., a Vancouver, B.C.-based mining exploration company with a copper-gold asset in Columbia and roughly US$20 million in the bank.

Over the several weeks leading up to the April 23 announcement of the potential merger, the value of...

 

Reader Comments(0)