Morien Shareholders Vote To Sell Stake in Donkin
Shareholders with Morien Resources have voted in favour of a plan to sell the company’s stake in the Donkin Mine. The Dartmouth-based firm says shareholders voted more than 99 per cent in favour of the deal during a special meeting, yesterday. Morien is selling its 25 per cent stake in Donkin to Kameron Collieries, an affiliate of The Cline Group. Kameron recently acquired a controlling interest in Donkin after it bought Glencore Xstrata’s 75 percent share. It will pay $5.5 million, including $2 million on closing, for Morien’s stake in the operation. The sale plan is expected to close before the end of the month.