Elgin Mining Inc. and Mandalay Resources Corporation., both listed on the Toronto stock exchange, have entered into an agreement whereby Mandalay acquires Elgin for consideration consisting of a combination of cash and shares. The total transaction value is approximately 425 million SEK.
Elgin Mining is a Canadian mining company which owns the Swedish gold mine Björkdal outside Skellefteå, which produces some 1,500 kilograms of gold per year and employs 160 staff and contract workers. Mandalay Resources is a natural resources company with production assets in both Australia and Chile.
Foyen assisted Elgin Mining and the firm’s transaction team was headed by Peter Dyer. He was assisted by Pia Pehrson, Sara Malmgren, Jiro Terao, Ludvig Gustafson and Amela Balijaj.
