TORONTO, March 10 (Reuters) – Canada’s top securities
regulator said on Thursday that the future strength of the
country’s equity markets will be key to whether it supports a
controversial bid to combine the Toronto and London stock
Approval from the Ontario Securities Commission is one of
the first of a series of green lights needed for the London
Stock Exchange’s (LSE.L: Quote, Profile, Research) proposed C$3.1 billion takeover of TMX
Group (X.TO: Quote, Profile, Research) to go ahead.
TORONTO, March 10 (Reuters) – The future strength and
integrity of the Canada’s equity markets will be key for
Ontario regulators as they evaluate increasingly controversial
plans to combine the Toronto and London stock exchanges.
Approval from the Ontario Securities Commission is one of a
series of green lights needed for the London Stock Exchange’s
(LSE.L: Quote, Profile, Research, Stock Buzz) proposed takeover of TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) to go ahead. It
can accept the deal as it stands, or make clear what changes
are needed to turn an unacceptable deal into a palatable one.
TORONTO, March 9 (Reuters) – Canadian banks will declare
their opposition to a proposed $3.1 billion takeover of the TMX
Group (X.TO: Quote, Profile, Research, Stock Buzz) by the London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz), sources
said, raising a formidable new obstacle to regulatory approval
of the deal.
Four of the country’s six top banks have penned a letter
outlining their concern that the deal would hurt Toronto’s
ambitions to become a global financial services hub, two bank
sources told Reuters on Wednesday. They spoke on the condition
of anonymity because they were not authorized to discuss the
TORONTO, March 8 (Reuters) – Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research, Stock Buzz)
expects its Cananea copper mine, Mexico’s largest, to reach 100
percent production capacity in April as it returns to full
operations after a three-year strike that ended in 2010.
Grupo Mexico Chief Operating Officer Xavier Garcia de
Quevedo told Reuters on the sidelines of the Prospectors and
Developers (PDAC) mining conference in Toronto that Cananea
cathode production was at 100 percent, while concentrate output
was between 55 percent and 60 percent.
TORONTO, March 8 (Reuters) – Mexico’s Fresnillo (FRES.MX: Quote, Profile, Research, Stock Buzz)
will stick to its policy of not hedging gold and silver
production, a preference expressed by investors during recent
meetings with officials of the silver miner.
“We are completely sure of this,” Chief Executive Jaime
Lomelin told Reuters in Toronto, where he was attending the
Prospectors and Developers mining conference. “They want to be
take the price risk on the upside and on the downside,” he
said, referring to investors who attended the meetings in
London, Edinburgh, New York and Miami.
TORONTO (Reuters) – Silver is likely to keep outperforming gold thanks to strong dollar flows, though both are still good investments compared with copper and other base metals, according to Eric Sprott, the hedge-fund manager and Canadian investment guru.
“I watch where the money goes and the money’s going into silver. There’s as much money going into silver as into gold in dollar terms,” said Sprott in an interview with Reuters.
TORONTO (Reuters) – Canadian private equity is set for another strong year in 2011, driven by dealmaking in its midmarket and an improved fundraising climate, the head of the Canadian Venture Capital and Private Equity Association says.
CVCA President Greg Smith told Reuters that large Canadian private equity players will again turn in a strong international performance.
TORONTO, March 7 (Reuters) – Copper miner Capstone Mining
(CS.TO: Quote, Profile, Research, Stock Buzz) says it’s on the acquisition trail, willing to spend up
to C$1 billion ($1.03 billion) for a rival as it seeks to
double its copper production.
Brad Mercer, vice-president for exploration, said on Monday
the company is on the lookout for a “merger of equals,” and
would consider a bid for a rival with assets that are at an
earlier stage of development than its own.
TORONTO (Reuters) – An offer by Equinox Minerals Ltd (EQN.AX: Quote, Profile, Research, Stock Buzz) to buy Toronto-listed Lundin Mining Corp (LUN.TO: Quote, Profile, Research, Stock Buzz) is worth more than just the C$4.8 billion bid price ($4.94 billion), the chief executive of the Australian miner says.
“It’s not just the premium, it’s the far better growth profile that we’re offering,” Equinox CEO Craig Williams told Reuters on Monday on the sidelines of the Prospectors and Developers (PDAC) conference in Toronto.
TORONTO, March 7 (Reuters) – Minera IRL (IRL.LM: Quote, Profile, Research, Stock Buzz), a gold
miner focused on properties in Peru, Chile and Argentina, says
it could have a resource of more than 2 million ounces of gold
at its flagship Ollachea property.
Speaking on the sidelines of the annual Prospectors and
Developers conference in Toronto, Minera IRL Chief Executive
Courtney Chamberlain said the company plans to have a
prefeasibility study ready for the project by mid-year, with
production by the second half of 2014.