TORONTO (miningweekly.com) – Employees at TSX-listed gold producer Semafo's Mana mine, in Burkina Faso, started an illegal work stoppage on Saturday evening.
The Montreal-based company said on Monday that this was in spite of an existing collective agreement that remained in effect until December 31, 2015.
The corporation had secured the Mana site and was collaborating with union delegates to establish a timely return to normal operations.
Semafo, which had in October launched a 65c-a-share takeover offer for ASX-listed gold developer Orbis Gold, on Monday gained 10.03% a share, rising C$0.33 to C$3.62 a share.
Takeover target Orbis on Monday announced that it had received Semafo’s ‘bidder’s statement’ and would “shortly” release its ‘target’s statement’ in response.
The offer was subject to a minimum acceptance by 50.1% of Orbis shareholders.
Orbis had rejected the unsolicited bid and was currently looking at alternative offers.