Top Mining News: This is the news on Revett Mineral Inc. Announcement on Silver Wheaton Exercising Participation Rights. It is reported that Revett Minerals Inc., announce that Silver Wheaton has exercised its participation right to acquire 3,855,558 Revett Minerals common shares. The complete news is as follows:
Revett Minerals Inc., announce that Silver Wheaton has exercised its participation right to acquire 3,855,558 Revett Minerals common shares.
In connection with the recent exchange of 20,553,500 Revett Silver Class B common shares for Revett Minerals common shares, Silver Wheaton has taken up a portion of its pro-rata share of Revett Minerals common shares under the Participation Rights Agreement dated November 22, 2006. Revett Minerals now has 109,014,696 shares outstanding, of which, Silver Wheaton owns 16.4%.
John Shanahan, President and CEO, commented “We are pleased that Silver Wheaton continues to stand behind Revett Minerals as we advance our long term goals of increasing production at the Troy Mine and advancing the exploration stage Rock Creek project.”
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