The gold mining space has been buzzing with merger talks. Endeavour Mining is seeking to acquire smaller West African-focused miner Teranga Gold. Endeavour is 24.12% owned by Egypt’s Sawiris family and has been on the acquisition path this year as gold prices have rallied on the back of global stimulus to cushion economies from the fallout of the COVID-19 pandemic.
As a result of the solid run-up in the bullion price, shares of Teranga Gold have gained 87% this year as of Nov 9, giving the company a market capitalization of about C$2.2 billion ($1.7 billion). Endeavour is valued at about C$5.23 billion ($4 billion) in Toronto (see: all the Materials ETFs here).
The potential deal, if completed, would solidify Endeavour’s position as West Africa’s leading gold producer as it would add operating mine — Wahgnion — to its four existing mines in Burkina Faso, namely, Boungou (acquired from SEMAFO), Karma, […]
Click here to view original web page at ca.news.yahoo.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments