Friday, March 18, 2011

BVI-registered company to purchase Century Mining Corp.

White Tiger Gold, the company based in the British Virgin Islands, announced that it has agreed to purchase Century Mining Corp. in an all-share deal worth about US$742 million. Under the terms of the deal, the BVI company would pay 0.4 of its shares for each Century Mining share.

The main assets of Century Mining Corp. are the Lamaque project in Val d'Or, Que., and the San Juan mine in Peru.

White Tiger is the holder of exploration and mining rights to five large properties in eastern Russia.

The boards of both companies have unanimously approved the deal. It still must be approved by shareholders and regulators.