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Our tailor-made investment solutions are personalized to meet your specific objectives. Our mission is to offer our clients an exceptional wealth management experience. Customer satisfaction is our goal.
Our tailor-made investment solutions are personalized to meet your specific objectives. Our mission is to offer our clients an exceptional wealth management experience. Customer satisfaction is our goal.
Issue 16 – Lundin Defies the Skeptics
Lundin Mining Corp (TSX: LUN) has been on the prowl for acquisitions for a few years now. If you recall, LUN tried to acquire Nevsun Resources Ltd. in July 2018. However, a competitive offer came from Zijin mining of China. Analysts and investors became very skeptic about LUN executing on any acquisition. I always appreciated management’s discipline regarding M&A. They are very patient and do not overpay. On April 15, 2019, LUN announced that they are acquiring Yamana’s (TSX: YRI) Chapada copper-gold mine in Brazil for $800Mln in cash plus $225Mln in contingent payments.
Disclaimer: Palos Funds are shareholders of LUN.
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By Charles Marleau, CIM & Joany Pagé, CFA
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