TORONTO (miningweekly.com) – Toronto-based Iamgold now controls 71,6% of Euro Ressources, after the results of Iamgold's public offer for the France-based company were published by the French Autorite des Marches Financiers (AMF).
Iamgold will now reopen the public offer, at the same price of €1,20 a share, for ten days, according to AMF regulations.
The offer will reopen on December 4 and close on December 17.
Euro has a royalty on Iamgold's Rosebel mine, in Suriname, and the Canadian miner announced in August that it would launch a takeover bid, in a move to lower cash costs at the operation.
The firm said at the time that costs could be reduced by some $50/oz if the takeover was successful, but this figure now stands at $45/oz, based on current prices, Iamgold said on Wednesday.