Franco-Nevada Gets 50% of Palmarejo

Canada’s Franco-Nevada has agreed to acquire a 50% interest in Mexico’s Palmarejo silver and gold mine from Coeur d’Alene Mines. The deal is valued at $80m, with $75m being paid in cash and the remaining $5m to be paid in “special warrants that are each exercisable to purchase one common share of Franco-Nevada for no additional consideration,” says Coeur. A Coeur d’Alene spokeswoman says that no financial advisors were involved and that the company approached Franco-Nevada on its own.