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Magna to buy Lonmin Canada

Magna Mining has entered into an agreement to acquire Lonmin Canada for C$16 million including $13 million in cash upon closing and a deferred payment of $3 million payable a year after closing in cash or stock.

Magna to buy Lonmin Canada Magna to buy Lonmin Canada Magna to buy Lonmin Canada Magna to buy Lonmin Canada Magna to buy Lonmin Canada

Lonmin's Denison in Ontario, Canada

Lonmin's main asset is the Denison project and past producing Crean Hill nickel-copper-platinum group metals mine in Sudbury in Ontario, Canada which is 37km east of Magna's Shakespeare project.