Canadian M&A Perspectives Private and Public Mergers & Acquisitions | Private Equity

Tag Archives: shareholder activism; dissent; fair market value; plan of arrangement; expert; fairness opinion; valuation opinion; mining; valuing mineral resources; NI 43-101

Valuation in mining cases: Lessons from the Re Nord Gold SE dissent proceeding

Posted in Private Transactions, Public M&A, Shareholders, Strategy, Uncategorized

In most Canadian M&A transactions, shareholders are entitled (either by statute or court order) to dissent from a transaction and be paid the fair value of their shares. Most dissent and appraisal cases settle, with the result that there are relatively few court decisions of note.  Absent settlement, a court must determine the fair value (FMV) of the shares. In the mining context, this task may be complicated by the prospect of valuing exploration lands unsupported by a “NI 43-101” (Standards of Disclosure for Mineral Projects) report or data demonstrating economic mineralization.… Continue Reading