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Endeavour Mining plc T.EDV

Alternate Symbol(s):  EDVMF

Metals & Mining Gold
Endeavour Mining plc is a United Kingdom-based senior gold producer with operating assets across Senegal, Cote d’Ivoire and Burkina Faso. The Company has a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. It operates mines that include Hounde Mine, Ity Mine, Mana Mine and Sabodala-Massawa Mine. The Hounde Mine is located approximately 250 kilometers (kms) southwest of Ouagadougou, the capital city of Burkina Faso. The Hounde Mine is owned by the Company (90%) and Government of Burkina Faso (10%). It owns approximately 85% of Ity Mine, which is located 480 kms northwest of Abidjan in southern Cote d'Ivoire. The Mana Mine is located approximately 200 kms west of Ouagadougou, the capital of Burkina Faso. The Sabodala-Massawa Mine is approximately 640 kms southeast of Dakar, the capital of Senegal. It owns approximately 80% of the Lafigue project. Its other projects include Kalana, Bantou and Nabanga.


TSX:EDV - Post by User

Endeavour Mining plc
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Post by symboton Oct 23, 2009 10:47am
1206 Views
Post# 16416902

This Morning's Gains...

This Morning's Gains...Here is what (I think) happened:

Yesterday a new company called Petroamerica (PTA) graduated to the TSXV:

https://www.newswire.ca/en/releases/a.../22/c9842.html

Endeavour owns something like 16% of PTA in the from of common sharesand warrants. They seem to have purchased their stake in PTA at about$0.25 per share.

This morning, on their first day of trading, PTA has opened at $0.78, and announced a private placement at $0.70:

https://www.newswire.ca/en/releases/a.../23/c9870.html

So... using very rough numbers that includecommon shares and warrants... Endeavor holds 53.5 million common sharesof PTA, which are worth about 25 million dollars more today than theywere yesterday. EDV has 96 million shares out, so each share is worth$0.26 more today, and that is about how much the stock jumped thismorning.

Would have been nice if they had put out a press release themselves!
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