Kinross Gold sells royalty portfolio to Maverix Metals for $74m
The deal involves 25 precious metals royalties and a number of early stage development and exploration projects.
The deal involves 25 precious metals royalties and a number of early stage development and exploration projects.
Endeavour Mining has drilled over 350,000 metres in the Kari area in less than two years, successfully delineating 2Moz during that time span.
The Toronto-based miner is offering 0.4343 shares to Detour's shareholders for each share held — a premium of 23.8% to Friday's closing price.
The Toronto-based gold miner intends to raise $50 million through the offering of 37.75 million units.
The Toronto-based gold miner reported adjusted earnings of $35.3 million compared to a net loss of $1.5 million in the same quarter last year.
The Canadian miner said operations at Elle Valle in Spain remain stable, and delivery of gold production “remains sustainable."
The company said the Boungou mine site is secure, but operations are suspended out of respect to the victims and those impacted.
Operating cash flow increased by 28% over the previous quarter and 354% over the prior-year period.
Shares of Endeavour Mining jumped more than 7% at market open Tuesday.
A mine plan review is underway, with results expected in Q1 2010.