Nevoro Acquisition
On September 3, 2009, a Notice and Management Proxy Circular was filed on SEDAR for Nevoro's Special Meeting of Shareholders to be held on Tuesday, September 29, 2009.
Subject to an affirmative vote of two-thirds of the votes cast by Nevoro shareholders, plus court approval and fulfilment of all other conditions of closing, the transaction should be completed on or about October 5, 2009.
The combination of Starfield's published resource of 44.2 million tonnes and Nevoro's historical resource estimate (non 43-101 compliant) of 107.4 million tonnes provides a potential base metal resource of 151.6 million tonnes.
Additional benefits of the transaction include:
- Expanded and geographically diversified resource base
- Two large projects in favourable geological settings
- Significant potential for multiple exploration and development projects
- Opportunity to apply Starfield's solvent extraction technology at Nevoro's Stillwater Complex
- Cost savings with reduced administrative expenses and one management team
- Increased share trading liquidity
