Augusta Resource Jumps On $230M Deal With Silver Wheaton
Augusta Resource Corp. (USA) (AMEX:AZC) jumped 18.06% up to $2.55 on news the company has signed a mining deal with Silver Wheaton for a cash payment of US$230 million and additional payments of US$3.90 per ounce of silver and US$450 per ounce of gold delivered during the mine life. Headquartered in Vancouver, Canada, Augusta Resource Corp is a mineral resource mining and exploration company. It holds a 100% interest in the Rosemont property, a copper-molybdenum-silver deposit in Pima County, Arizona that covers unpatented and patented mining claims of approximately 15,000 acres.
Mercer International Inc. (NASDAQ:MERC) gained 12.36% up to $3.91 on news the company reported results for the fourth quarter and year ended December 31, 2009 late yesterday. Operating EBITDA in the fourth quarter of 2009 increased by over 80% to $34.7 million from $18.6 million in the third quarter of 2009. In the fourth quarter of 2008, Mercer had an operating EBITDA loss of $9.9 million. The company noted progress in the last quarter of 2009 was due chiefly to pricing improvements and strong demand from Chinese markets. Headquartered in Vancouver, British Columbia, Mercer International is one of the largest northern bleached softwood kraft pulp producers in the world by production capacity. The company’s markets are primarily in Europe, Asia and North America, through three subsidiaries consisting of large-scale, modern pulp mills: one in British Columbia and two in eastern Germany.
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