Endeavour Mining plc T.EDV

La Man buys his shares

[theCurse]

Ouch.  Wonder how many he could have bought on the open market below that price.

Endeavour issued a total of 8,910,592 ordinary shares (“Shares”) to La Mancha for aggregate net proceeds of US$200 million at a price of approximately US$22.45 (C$29.36¹) per Share (the “Investment”). The investment, which was announced as part of the acquisition of Teranga Gold Corporation on November 16, 2020, is being made by La Mancha under its pre-existing anti-dilution right. As previously disclosed, upon completion of the investment, La Mancha’s future anti-dilution rights have now been extinguished. Following completion of the investment, Endeavour now has 252,519,830 shares outstanding with La Mancha holding an interest of approximately 19%.

tC

[marben100]

Doubt he could have bought 9m: that's the entire traded volume for the last 3 weeks. As pointed out in an earlier post, La Mancha DID pick up 183K @ 24.74 on 26th March in the market. Seen this before with Ivanhoe Mines (which I also hold):  In April 2019 Ivanhoe announced a major investment by CITIC metals @ C$3.98/share. The shares were trading at C$3.42 at the time. They went on to

[RONNIE111]

EDV is holding it's share price better than most it seems as gold drops.  Perhaps this is an effect of La Manch buying those 183 t shares.  If that is true just imagine the effect  buying 5% of the outstanding shares in a buy back , which would be about 12.5 mil shares, would have.  If they bought those shares this year, say chasing the price up from $25 to $50 so maybe an