Endeavour increases Ity mine ownership to 85%
TSX-listed Endeavour Mining has increased its ownership stake in the Ity mine, in Côte d'Ivoire, from 80% to 85%.
In exchange for the additional 5% interest in the Ity mine, Endeavour granted DYD International more than one-million common shares amounting to a total consideration of about $15-million based on the signing reference share price of C$18.50 a share.
The transaction was signed on December 21 and closed on Thursday evening.
Following this transaction, Endeavour owns 85% of the Ity mine, the government of Côte d'Ivoire 10% and State-owned mining company Sodemi the remaining 5%.
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