Endeavour completes La Mancha buy
PERTH (miningweekly.com) – Dual-listed gold miner Endeavour Mining has completed the acquisition of gold investment company La Mancha Holdings’ assets.
Endeavour’s shareholders in early November approved a partnership with La Mancha, would see the gold miner acquire La Mancha’s indirect 55% interest in Société des Mines d’Ity, which operates the Ity gold mine, in Côte d’Ivoire, through the issue of 177.1-million Endeavour ordinary shares, representing 30% of Endeavour’s enlarged share capital and equal to $77.9-million.
Endeavour reported on Monday that it had issued the shares, and that the company was officially producing 580 000 oz/y from five operating mines in four West African countries.
“This partnership secures Endeavour Mining’s platform for growth with the shared vision of creating a premier African gold producer,” Endeavour CEO Neil Woodyer.
“Over the last five years, Endeavour Mining has acquired four mines, completed two feasibility studies, successfully built the Agbaou mine, reduced our group all-in sustaining cost an ounce to the low $900s, established a pipeline that includes two low-cost projects, and we have unlocked significant exploration potential in Côte d’Ivoire and Burkina Faso.”
Woodyer said that numerous opportunities also existed for further regional consolidation that would benefit from Endeavour’s management and operational expertise.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation