Business Context and Reporting Period
Company: Southern Copper Corporation (SCC)
Filing Type: Form 8-K (Current Report)
Date of Report: February 4, 2009
Event: Announcement of a support agreement and all-cash take-over bid for Frontera Copper Corporation.
Key Financial Metrics
This filing does not report standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity for Southern Copper Corporation. The document focuses exclusively on a specific corporate transaction.
| Metric | Value |
|---|---|
| Offer Price per Share | C$0.65 |
| Total Consideration | Approximately C$42,000,000 |
| Target Company | Frontera Copper Corporation |
Material Changes
On February 4, 2009, SCC entered into a support agreement with Frontera Copper Corporation, a Canadian mining, development, and exploration company. SCC initiated an all-cash take-over bid to acquire Frontera's outstanding common shares.
Guidance, Outlook, and Risks
- Transaction Timeline: The terms and conditions of the offer are expected to be included in an offer and take-over bid circular filed with Canadian Securities regulatory authorities on February 6, 2009, but no later than February 13, 2009.
- Documentation: A press release detailing the announcement is filed as Exhibit 99.1.
- Risks/Contingencies: The filing does not explicitly list risks or contingencies beyond the standard regulatory filing requirements for the take-over bid.
Key Facts for Investor Verification
- Verify the final terms of the take-over bid in the circular expected to be filed by February 13, 2009.
- Confirm the total number of outstanding shares of Frontera Copper Corporation to validate the C$42,000,000 total consideration.
- Review Exhibit 99.1 for the full text of the press release and any additional conditions to the support agreement.
- Monitor regulatory approvals from Canadian Securities authorities required to complete the acquisition.