Iamgold buys Essakane developer
Iamgold is to buy Orezone Resources in an all-share transaction worth about US$139m in order to take control over the miner's 4m oz Essakane project in Burkina Faso. Orezone's other assets, all in the exploration phase, are to be spun off into a new entity, New Orezone, which will be distributed pro rata to all existing shareholders. Regarding Essakane, each shareholder will receive 0.08 Iamgold shares per current Orezone share held.
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