Spotlight: Homestake Mining Stakes Claim to 49% of Prime

Prime Resources Group Inc. shareholders approved Homestake Mining Co.’s purchase of 49.4% of Vancouver, B.C.-based Prime, a transaction valued at about $303 million. San Francisco-based Homestake, the U.S.’ oldest publicly traded gold-mining firm, agreed to swap 0.74 share for each Prime share, or 27.8 million shares. The offer valued Prime shares at $8.09 each. Homestake stock rose 13 cents to close at $10.94 on the New York Stock Exchange. Prime’s stock ended up 19 cents at $7.81 on the American Stock Exchange.