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Highland Signs Binding Offer From Kinterra To Sell Interest In White Pine
Join Highland Copper CEO Barry O'Shea for commentary on Kinterra's binding offer to acquire a 34% interest in the White Pine North project for US$30 million. Q&A to follow.
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Romeo Maione
VP Business Solutions at 6ix
Barry O'Shea
CEO at Highland Copper
Mr. O’Shea has over 20 years of finance experience across diverse industries and countries. Mr. O’Shea was CFO of Fiore Gold Ltd. from May 2018 until its recent acquisition by Calibre Mining Corp. Prior to that, he spent eight years with New Gold Inc., init...
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Team at 6ix Inc
Daniel Barankin
CEO at 6ix
Daniel Barankin is the founding CEO & Chairman of 6ix, where he leads the company's mission to eliminate barriers to investment through connected investor communities. Beyond his leadership at 6ix, Daniel serves on the board of the Canada-Africa Chamber of ...
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Replay transcript excerpt
[Speaker identities could not be resolved; generic labels used] [00:04] Speaker 1: Good afternoon or good evening, depending on where in the world you're tuning in from today. For the Americans in the room, particularly, happy early Thanksgiving. Thanks for joining us close to the holidays. Really, really appreciate it. I'm joined today by Barry O'Shea, CEO of Highland Copper, following their big news from this morning. So I'm going to start right off by saying, obviously, congratulations on the successful divestment of Highland Steak and White Pine North. I'd love if you could give the investors in the room and me just a sense of the structure of that transaction. [00:28] Speaker 2: Well, yeah, I guess what I'd say as a starting point is, you know, it's a pretty simple deal and with a pretty simple rationale. [00:34] Speaker 2: You know, nicely, you'll see through the news release that we're going to be forgiven the $12 million debt. That's a very important piece. We obviously want to clean up our capital structure. [00:44] Speaker 2: There's cash consideration of just over $18 million, a really significant amount. [00:49] Speaker 2: And maybe just as a headline number, that gives total consideration of $30 million [00:53] Speaker 2: for 34% [00:56] Speaker 2: of the project. And just bear in mind, 2 and a half years ago, [00:59] Speaker 2: we sold 2 thirds of the project for that same 30 million. So a really nice movement in value acknowledging of course there's been some investment [01:07] Speaker 2: in the interim, but really a nice headline number, really fantastic from a cash standpoint [01:12] Speaker 2: and a transaction that we're very happy with. Awesome. And I know you characterized [01:16] Speaker 1: in the PR as a pivotal moment for Highland Copper. What...