Dynatec Acquires Interest in FNX Mining Company

On October 21, 2005, TSX-listed Dynatec Corp. acquired a 27 per cent equity interest in FNX Mining Company Inc., in exchange for Dynatec's 25 per cent interest in the Sudbury Basin Joint Venture and its 50 per cent interest in Aurora Platinum Corp., resulting in Dynatec becoming the largest shareholder of FNX.

Dynatec was represented by James Matthews, Eldon Bennett, Boris Muchalov and Bill VanderBurgh of Aird & Berlis LLP. FNX was represented by Jay Goldman and Anna Balinsky of Goodman and Carr LLP.

On November 9, 2005, Dynatec completed a public offering of 88 million common shares at $1.35 per share for gross proceeds of $118.8 million. Merrill Lynch Canada Inc. and GMP Securities Ltd. acted as lead underwriters.

Dynatec was represented by Aird & Berlis with a team that included James Matthews, Jaime McVicar, Jennifer Wainwright, Sam Billard, Barbara Worndl, Todd May, Kay Leung, Ron McKenna and Fiona Hickman. Donald Walkovik and Alexander Fine of Sullivan & Cromwell LLP acted as special US counsel to Dynatec.

Davies Ward Phillips & Vineberg LLP represented the underwriters with the team of Bill Gula, Kenneth Klassen, Donna Aronson and Robin Upshall (corporate/securities), Siobhan Monaghan and Paul Lamarre (tax) and Alexandria Pike (environmental). Jason Lehner, Stephen Centa, Brent Westrop and Matthew Cumming of Shearman & Sterling LLP acted as special US counsel to the underwriters.