Tahoe Resources Inc.

Published : June 16th, 2015

Tahoe Resources stock slides 9 pct on lukewarm demand for offer

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Tahoe Resources stock slides 9 pct on lukewarm demand for offer

June 16 (Reuters) - Shares in Tahoe Resources Inc fell more than 9 percent on Tuesday on tepid investor demand for nearly C$1 billion worth of the gold and silver producer's stock, three industry sources said.

Goldcorp Inc announced late on Monday that it would sell its 25.6 percent stake in Tahoe Resources for C$998.5 million ($811.00 million) in a so-called bought deal - a transaction where one or more investment banks commit to buying the offering and then typically sells it to other investors.

The industry sources, who asked not to be identified because they were not authorized to comment publicly on the matter, said joint book runners GMP Securities and BMO Capital Markets were having some difficulty placing the stock at the offering price of C$17.20 a share.

The offering price represents a 7 percent discount to Tahoe's closing stock price on Monday.

Neither GMP nor BMO responded immediately to a request for comment.

Tahoe spokesman Ira Gostin said that the miner had heard that the offering was going well but that it could take a few days for the placement to be completed.

"I think that a near $1 billion deal doesn't materialize in a day," he said, adding however that Tahoe's existing shareholders were "very receptive" to the offer.

Tahoe's stock was down C$1.67, or 9 percent, on the Toronto Stock Exchange at C$16.80. In New York, it was down 9 percent at $13.64. Other gold and silver stocks were also lower, hit by a slide in the gold price.

This is not the first large mining industry bought deal to struggle in recent months as the sector remains in the grips of a four-year downturn. In March, investment banks had a tough time finding buyers for an $800 million stock offering by Silver Wheaton Corp.

($1 = 1.2312 Canadian dollars) (Reporting by Nicole Mordant in Vancouver; Editing by Tom Brown)

Read the rest of the article at finance.yahoo.com

Tahoe Resources Inc.

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CODE : THO.TO
ISIN : CA8738681037
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Tahoe Resources is a silver producing company based in Canada.

Its main exploration property is ESCOBAL in Guatemala.

Tahoe Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.1 billions, € 1.0 billions).

Its stock quote reached its highest recent level on September 24, 2010 at CA$ 9.96, and its lowest recent point on June 28, 2019 at CA$ 4.95.

Tahoe Resources has 312 300 000 shares outstanding.

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In the News and Medias of Tahoe Resources Inc.
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Nominations of Tahoe Resources Inc.
8/29/2012Announces Appointment of New Auditor
5/3/2011Announces Addition to Board of Directors
Financials of Tahoe Resources Inc.
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5/12/2016Reports Strong Earnings in First Quarter 2016
11/12/2014Reports Solid Third Quarter
8/8/2013Reports 2013 Second Quarter Results
5/10/2013Reports 2013 First Quarter Results
5/10/2013Reports 2013 First Quarter Results
11/14/2012Reports 3rd Quarter 2012 Financial Results
8/3/2012Reports 2nd Quarter 2012 Financial Results
Project news of Tahoe Resources Inc.
3/11/2015Reports Strong First Production Year
2/17/2015Reports Strong First Production Year
5/1/2013(Escobal)Clarifies Reports Regarding Incidents Near Escobal Project
4/3/2013(Escobal)Escobal Project Receives Final Permit
6/28/2012(Escobal)Escobal Project Unaffected by Proposed Mining Reform
3/9/2012(Escobal)Reports 2011 Results and Updates Escobal Project
Corporate news of Tahoe Resources Inc.
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1/14/2016TAHOE REPORTS RECORD 2015 GOLD & SILVER PRODUCTION
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10/19/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
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9/3/2015TAHOE RESOURCES DECLARES NINTH MONTHLY DIVIDEND FOR 2015
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4/8/2015TAHOE RESOURCES ANNOUNCES IT HAS OBTAINED PROVISIONAL LISTIN...
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4/2/2015S&P Dow Jones Indices Announces Changes to the S&P/TSX Canad...
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2/25/2015TAHOE ANNOUNCES RECEIPT OF SHAREHOLDER APPROVAL
2/25/2015TAHOE ANNOUNCES RECEIPT OF SHAREHOLDER APPROVAL
2/25/2015Announces Receipt Of Shareholder Approval
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11/12/2014Tahoe Resources posts 3Q profit
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11/12/2014TAHOE RESOURCES REPORTS SOLID THIRD QUARTER
11/12/2014TAHOE RESOURCES REPORTS SOLID THIRD QUARTER
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11/5/2014TAHOE RESOURCES ANNOUNCES ESCOBAL MINERAL RESERVES
11/5/2014(Escobal)Announces Escobal Mineral Reserves
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6/4/2013Closes $50 Million Secured Credit Facility
9/19/2012(Escobal)Reports Civil Unrest From Outsiders at Escobal
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5/11/2012Reports 1st Quarter 2012 Results
5/8/2012Begins Trading on NYSE
5/7/2012Announces Updated NI 43-101 Resource
5/4/2012to Commence Trading on NYSE
6/20/2011Added to S&P/TSX Composite and Global Mining Indices
6/8/2011(Escobal)s Escobal Drilling -- Expands Known Mineralization
4/5/2011Announces Recommendations From ISS Group in Support of Matte...
2/16/2011Receives Environmental Permit to Commence Underground Develo...
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TORONTO (THO.TO)NYSE (TAHO)
4.95+0.00%3.64-3.96%
TORONTO
CA$ 4.95
06/28 17:00 -
0%
Prev close Open
4.95 4.89
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Year l/h YTD var.
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