Friedland oil companies plan to merge

Article Abstract:

Black Sea Energy Ltd. and Sunwing Energy Ltd., both are oil companies based in Calgary, Alberta and owned by financier Robert Friedland, are planned to be merged as part of an effort to raise a maximum of $200 million to support oil projects in China. The project in China involves Sunwing, which has an existing production-sharing deal with the Chinese government to develop the Dagang property near Beijing, China, and the Daqing oil project in northeastern China. The merged entity would cooperate in financing development of the two projects and is expected to receive 49% of the sales from production after costs are repaid.

Comment:

Is planned to be merged w/ Black Sea Energy as part of an effort to raise a maximum of $200 mil to support oil projects in China

Oil & Gas Extraction, Oil and Gas Extraction, Alberta, Gas industry, Petroleum mining, Black Sea Energy Ltd., Sunwing Energy Ltd.

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Miner to buy 25% of Inco's Voisey's shares

Article Abstract:

Franco-Nevada Mining Corp. has agreed to buy 25.4% of a special class of Inco Ltd. shares for C$50.4 million, a deal that will entitle it to 6.3% profits from Voisey's Bay nickel project in Labrador, Newfoundland. The Voisey's Bay project has been stopped as a result of Newfoundland's firm stand to make Inco construct a smelter in Argentina to treat the nickel ore that will come from the project. But Inco said it would rather perform nickel ore treatment activities at its existing facility in Sanbury, Ontario, because of nickel trading is at its 11-year low.

Comment:

Buys special class of Inco Ltd shares for C$50.4 mil, a deal that will entitle it to get 6.3% profits from Voisey's Bay mine

Asset sales & divestitures, Ontario, All Other Metal Ore Mining, Newfoundland, Metal Ore Mining, Gold & Silver Ores, Nickel Ores, Franco-Nevada Mining Corporation Ltd., Inco Ltd., Newfoundland and Labrador, Gold ores, Silver ores

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