Couer d'Alene Mines completes Orko Silver deal
COEUR D'ALENE, Idaho (AP) — Couer d'Alene Mines Corp. said Tuesday that it completed the purchase of Orko Silver Corp. for about $382 million in cash and stock.
Couer d'Alene Mines said it acquired the Canadian company for 100 million Canadian dollars ($98 million) in cash, 11.6 million common shares and warrants to buy another 1.6 million shares. It made an offer to buy the company for 384 million Canadian dollars in cash and stock in February. Orko had previously agreed to sell itself to First Majestic Silver Corp.
Couer d'Alene said it has the experience and financial strength to help bring Orko's La Preciosa silver project in Mexico online. The companies say it is one of the biggest undeveloped primary silver deposits in the world.
Shares of Couer d'Alene Mines rose 14 cents to $15.19 in morning trading.