Colorado-headquartered miner Golden Minerals (aum-t, aumn-n) and Toronto-based ECU Silver Mining (ecu-t) are merging create a new silver mining company focused mainly on Mexico and Argentina. Under the plan of arrangement, ECU shareholders would receive 0.05 of a Golden Minerals share and 0394 cents cash for each share held. The exchange ratio represents a 7% premium to ECU Silver's 20-day volume-weighted average price of 93 cents. The "at market" transaction is based on the companies' 20-day volume-weighted average trading prices.
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