Platinum buys Latin American mining company

AIM-listed investor Platinum Diversified Mining has bought International Consolidated Minerals, a Latin American-focused mining and exploration company, in a reverse takeover.


AIM-listed investor Platinum Diversified Mining has bought International Consolidated Minerals, a Latin American-focused mining and exploration company, in a reverse takeover.

AIM-listed investor Platinum Diversified Mining has bought International Consolidated Minerals, a Latin American-focused mining and exploration company, in a reverse takeover.

Post-completion, the combined entity will trade as International Consolidated Minerals.

The deal has valued the acquired business at US$240 million (£117 million), which was satisfied through the issue of 30 million consideration shares and more than 640,000 warrants.

The nominated adviser and broker was Strand Partners, while CLB Little John Fraser was the reporting accountant.

Post-completion, the board will focus the group’s operations on developing International Consolidated Minerals’ Pachapaqui Mine and San Luis project in Peru.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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