News

April 23, 2008

Griffin Mining Rides To The Rescue Of Canadian-listed Yukon Zinc

Timing is everything. No sooner had we run an article on Minesite saying that Griffin Mining was poised for deals, than it did one. Prescient on our part, perhaps. But actually the Griffin’s offer to acquire Yukon Zinc went live within 24 hours of us posting our original story, which is a little too close for comfort, since Monday’s story was out of date by Tuesday morning. So here, as an update, is a view from the Canadian side of the pond, by Our Canadian Correspondent.

The past 18 months have been tumultuous for shareholders of Yukon Zinc and just as the company scrambles for funds to keep the doors open on its advanced Wolverine base metal deposit in the Yukon, along comes Aim-traded Griffin Mining to potentially save the day.

Griffin is offering one of its shares for every nine Yukon Zinc shares. When the deal goes through, Yukon Zinc shareholders will hold 16 per cent of Griffin, which itself holds a 60 per cent interest in the Caijiaying...