Mining Prospects (Volume 2, Issue 1)
We welcome you to our June issue of Mining Prospects, the periodical of our Global Mining Group.
This issue deals with a number of important M&A themes raised by recent Canadian court and securities commission decisions ― from directors’ duties in situations involving competing stakeholder interests (BCE), to when a publicly listed acquiror’s shareholders have the right to vote on an acquisition (HudBay/Lundin), to avoiding possible conflicts of interest involving financial advisers to an M&A transaction (Rusoro/Gold Reserve). Other articles in this issue discuss the introduction at last of special purpose acquisition corporations as a financing vehicle on the TSX, the disclosure of material changes as they relate to mining rights, and the sharing of resource revenue with Aboriginal groups in Canada by mining companies.
The combined impact of the current credit crunch, economic recession and mining cycle are causing mining companies to face challenges both numerous and varied. Management and their advisers must be vigilant and well-prepared for the myriad pitfalls these difficult times can bring, but should also not ignore the potential (and often rapidly evolving) opportunities that can be found in such times.
To this end, we are hearing loud and clear from our clients that now, more than ever, there is no such thing as over-communication ― with your shareholders, employees, creditors, suppliers, industry peers, advisors, and even humble editors of mining industry periodicals. We hope we will continue to hear from you with feedback on this publication, suggestions for future topics of interest, or anything else you might wish to discuss with us.
Brian Graves and Gary Litwack (Editors)
In This Issue:
TSX Overruled — OSC Requires Approval of HudBay Shareholders in Proposed Acquisition of Lundin
Court Stops Hostile Bid Due to Financial Advisor’s Conflict of Interest
Disclosure of Material Changes in the Context of Mining Rights Held by an Issuer
SPACs Come to Canada and a Powerful Acquisition Tool is Born
Recent Developments in Resource Revenue Sharing with First Nations Regulatory Roundup
