As stated in many news releases and the financials, Minera Santa Elisa is wholly owned by St. Elias Mines
What is a 'Wholly Owned Subsidiary'
A wholly owned subsidiary is a company whose common stock is 100% owned by another company, the parent company. Whereas a company can become a wholly owned subsidiary through an acquisition by the parent company or having been spun off from the parent company, a regular subsidiary is 51 to 99% owned by the parent company. When lower costs and risks are desirable or when it is not possible to obtain complete or majority control, the parent company might introduce an affiliate, associate or associate company in which it would own a minority stake.
BREAKING DOWN 'Wholly Owned Subsidiary'
Because the parent company owns all the shares of a wholly owned subsidiary, there are no minority shareholders. The subsidiary operates with the permission of the parent company, which may or may not have direct input into the subsidiary’s operations and management. For example, a wholly owned subsidiary may be located in a country different from that of the parent company. The subsidiary most likely has its own senior management structure, products and clients. Having a wholly owned subsidiary may help the parent company maintain operations in diverse geographic areas and markets or separate industries. These factors help hedge against changes in the market or geopolitical and trade practices as well as declines in industry sectors.
Read more: Wholly Owned Subsidiary Definition | Investopedia http://www.investopedia.com/terms/w/whollyownedsubsidiary.asp#ixzz4Uu3DpvIx
Follow us: Investopedia on Facebook
