{"id":576140,"date":"2020-11-11T04:06:44","date_gmt":"2020-11-11T04:06:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/11\/endeavor-has-teranga-in-its-sights-for-second-west-africa-gold-merger\/"},"modified":"2020-11-11T04:06:44","modified_gmt":"2020-11-11T04:06:44","slug":"endeavor-has-teranga-in-its-sights-for-second-west-africa-gold-merger","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/11\/endeavor-has-teranga-in-its-sights-for-second-west-africa-gold-merger\/","title":{"rendered":"Endeavor has Teranga in its sights for second West Africa gold merger"},"content":{"rendered":"

<\/a> Sawiris-backed Endeavour Mining continues quest to become West Africa\u2019s gold <\/strong>king:<\/strong> Canada\u2019s Endeavour Mining is in talks over a merger with West Africa-based miner Teranga Gold, the companies said in separate statements (here<\/a> and here<\/a>) yesterday, without providing further details. Endeavour and Teranga are discussing a \u201cmerger of equals style\u201d acquisition, which would see Endeavour add another mine to its portfolio in Burkina Faso and establish a footprint in Senegal. It is also mulling an all-stock agreement and could offer a lower premium for the company, sources told Bloomberg<\/a>. Both companies said that the talks will not necessarily lead to an agreement.<\/p>\n

A major play for West Africa:<\/strong> Endeavour, 24.12% owned by the Sawiris family, purchased Burkina Faso\u2019s largest gold producer Semafo<\/a> for USD 690.7 mn in March to create West Africa\u2019s largest gold mining company. Post-Semafo, Endeavour is now one of the 15 largest gold miners in the world, producing 1 mn ounces each year. \u201cThe combination of Endeavour and Teranga would further solidify Endeavour as West Africa\u2019s leading gold producer,\u201d Raymond James analyst Craig Stanley told Reuters<\/a>.<\/p>\n

Calls for consolidation:<\/strong> The CEO of Barrick Gold has recently reiterated<\/a> his calls for increased consolidation in the sector so companies can increase spend on exploration amid declining reserves. The surge in gold prices this year has pushed up company valuations, resulting in a slowdown in M&A activity after a flurry of agreements in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sawiris-backed Endeavour Mining continues quest to become West Africa\u2019s gold king: Canada\u2019s Endeavour Mining is in talks over a merger with West Africa-based miner Teranga Gold, the companies said in separate statements (here and here) yesterday, without providing further details. Endeavour and Teranga are discussing a \u201cmerger of equals style\u201d acquisition, which would see Endeavour […]<\/p>\n","protected":false},"author":1,"featured_media":576141,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[6203,72,3689,373,2065,4845,2380,6204],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-endeavor-mining","tag-enterpriseam","tag-la-mancha","tag-mining","tag-naguib-sawiris","tag-semafo","tag-speed-round","tag-teranga-gold","wpautop","entry"],"acf":{"mongo_id":"a3ce9437-fb7a-4251-8fe8-302ba961fb47","is_powered_by":true,"section_story_id":"7ba3c0ab-cba6-4ed1-94f1-10368c5f8e54","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/118.jpg","photo_position":"above","related_issue":[576129],"teaser":"","voice_url":""},"yoast_head":"\nEndeavor has Teranga in its sights for second West Africa gold merger - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/11\/endeavor-has-teranga-in-its-sights-for-second-west-africa-gold-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Endeavor has Teranga in its sights for second West Africa gold merger\" \/>\n<meta property=\"og:description\" content=\"Sawiris-backed Endeavour Mining continues quest to become West Africa\u2019s gold king: Canada\u2019s Endeavour Mining is in talks over a merger with West Africa-based miner Teranga Gold, the companies said in separate statements (here and here) yesterday, without providing further details. 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Major shareholders in both companies \u2014 Barrick\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566349,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sawiris-endeavour-becomes-an-lse-listed-company\/","url_meta":{"origin":576140,"position":1},"title":"Sawiris\u2019 Endeavour becomes an LSE-listed company","author":"enterpriseam admin","date":"14 June 2021","format":false,"excerpt":"Naguib Sawiris-backed Endeavour Mining has listed today on the LSE after being admitted into the UK Listing Authority\u2019s premium listing segment, the company said in a statement. 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Sawiris\u2019 La Mancha Holding is the largest shareholder in Toronto-based Endeavour Mining, and also holds an almost 35% stake in Altus strategies, whose subsidiary Akh Gold\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591367,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/04\/centamin-rejects-usd-1-9-bn-endeavour-merger-proposal\/","url_meta":{"origin":576140,"position":3},"title":"Centamin rejects USD 1.9 bn Endeavour merger proposal","author":"enterpriseam admin","date":"4 December 2019","format":false,"excerpt":"M&A WATCH- Centamin rejects USD 1.9 bn Sawiris-backed Endeavour merger proposal: The board of gold mining company Centamin has unanimously rejected a proposal by Endeavour Mining for a USD 1.9 bn all-share merger, the Wall Street Journal reports. The London-listed operator of Egypt\u2019s Sukari gold mine said the offer would\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/685.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591473,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/endeavour-isnt-giving-up-on-centamin-merger-plans\/","url_meta":{"origin":576140,"position":4},"title":"Endeavour isn\u2019t giving up on Centamin merger plans","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"M&A WATCH- Endeavour isn\u2019t giving up on Centamin merger plans: Endeavour Mining is \u201creaching out to Centamin shareholders\u201d in an attempt to bring them around to the all-share merger Endeavour had proposed last week, CEO S\u00e9bastian de Montessus told Reuters. Endeavour had offered to exchange 0.0846 of its shares for\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652648,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/16\/endeavour-mining-studies-merger-with-acacia-mining\/","url_meta":{"origin":576140,"position":5},"title":"Endeavour Mining studies merger with Acacia Mining","author":"enterpriseam admin","date":"16 January 2017","format":false,"excerpt":"M&A watch: Naguib likes mining now. The Naguib Sawiris-backed Endeavour Mining Corporation is studying a merger with Acacia Mining that would create a company with a combined market value of USD 3.8 bn, making up one of the largest precious metal-mining groups in Africa, Bloomberg reports. \u201cAcacia confirms that it\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=576140"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576140\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576141"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576140"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576140"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}