M&A Deal Summary

Waterton Global Resource Management Acquires Timberline

On September 15, 2015, private equity firm Waterton Global Resource Management acquired metals/mining company Timberline from Barrick

Acquisition Highlights
  • This is Waterton Global Resource Management’s 1st transaction in the Metals/Mining sector.
  • This is Waterton Global Resource Management’s 1st transaction in the United States.
  • This is Waterton Global Resource Management’s 1st transaction in Idaho.
Investment Fate
  • Timberline was sold to a publicly-traded strategic buyer in 2024 for 19M USD.

M&A Deal Summary

Date 2015-09-15
Target Timberline
Sector Metals/Mining
Buyer(s) Waterton Global Resource Management
Sellers(s) Barrick
Deal Type Divestiture

Target

Timberline

Coeur d'Alene,, Idaho, United States
Timberline is a gold exploration and development company with its flagship gold-silver property in the Eureka District. The Eureka property includes the historical Lookout Mountain and Windfall mines in a total property position of approximately 27 square miles (70 square kilometers). Timberline was founded in 1968 and is based in Coeur d'Alene, Idaho.

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Buyer(S) 1

Buyer
DESCRIPTION

Waterton Global Resource Management is a Canadian private investment group focused on the metals and mining sector. Waterton looks to invest $10 to $250 million in production-focused, precious and base metal assets. Waterton Global Resource Management was formed in 2009 and is based in Toronto, Ontario.


DEAL STATS #
Overall 1 of 1
Sector: Metals/Mining M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Idaho M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2015 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Osgood Mining Co.

Carson City, Nevada, United States

Osgood Mining Co. is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada (“Getchell” or the “Getchell Project”). Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999 and underground test mining (the Pinson Mine) was conducted in the early 2010s. The Project currently hosts both a high grade open-pit and underground deposits (see table 1 below) and the Pinson Mine has been in care and maintenance since 2015.

Sell $50M

Seller(S) 1

SELLER

Barrick

Toronto, Ontario, Canada

Category Company
Founded 1983
Sector Metals/Mining
Revenue 12.9B USD (2024)
DESCRIPTION

Barrick operates mines and advanced exploration and development projects on five continents, and holds large land positions on some of the most prolific and prospective mineral trends. Barrick was incorporated in 1983 and is based in Toronto, Ontario.


DEAL STATS #
Overall 4 of 10
Sector: Metals/Mining M&A 3 of 9
Type: Divestiture M&A Deals 4 of 9
State: Idaho M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Kundana and Kanowna Belle Gold Mines

Kalgoorlie-Boulder, Australia

Kundana and Kanowna Belle Gold Mines designed to handle approximately 1.8 million tonnes of feed per annum. It contains proven and probable reserves of roughly 600,000 ounces, along with measured and indicated resources of another 600,000 ounces.

Sell AU$75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-23 Barrick - Snip Property

British Columbia, Canada

Barrick - Snip Property is a gold mine in northwest British Columbia. The property consists of one mining lease and four mineral tenures totalling approximately 1,932 hectares in the Liard Mining Division. The Snip mine produced approximately 1 million ounces of gold from 1991 until 1999 at an average gold grade of 25 g/t at a 12 g/t reserve cut-off.

Sell -