Money: Iamgold explores sale amid gold sector consolidation - - PressFrom - Canada
  •   
  •   
  •   

MoneyIamgold explores sale amid gold sector consolidation

15:40  17 may  2019
15:40  17 may  2019 Source:   msn.com

Report: Abramovich not considering Chelsea sale to Britain's richest man

Report: Abramovich not considering Chelsea sale to Britain's richest man Chelsea owner Roman Abramovich is not eyeing a speculated sale of the club to Britain's richest man, Sir Jim Ratcliffe, according to a report from ESPN FC's Liam Twomey. Abramovich purchased the club in 2003, but hasn't attended a match since his tier-1 investor visa was rebuffed by the UK government last year amid uneasy relations with his native Russia. Ratcliffe sparked talk of a potential sale in recent discussions with BBC Sport when he referenced "conversations" over a potential takeover of the west London club.

Updated on. Iamgold Explores Sale Amid Gold Sector Consolidation . The decision to explore a sale follows several sizable mergers in the gold space, including Newmont Mining Corp.’s billion acquisition of GoldCorp Inc. and Barrick Gold Corp.’s .8 billion acquisition of Randgold Resources

Canadian miner Iamgold Corp. is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector , according to people familiar with the matter. The Toronto-based miner is working with advisers and has spoken to several potential buyers, said the people

Iamgold explores sale amid gold sector consolidation© Bloomberg Bars of gold bullion sit underneath a 12.5 kilogram gold bar at the Valcambi SA precious metal refinery in Balerna, Switzerland, on Tuesday, April 24, 2018.

(Bloomberg) -- Canadian miner Iamgold Corp. is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector, according to people familiar with the matter.

The Toronto-based miner is working with advisers and has spoken to several potential buyers, said the people, who asked not to be identified because the matter is private.

Iamgold’s plans could still change and there’s no guarantee it would succeed in selling itself, the people said.

TSX falls for second day on U.S.-China trade worries

TSX falls for second day on U.S.-China trade worries TSX falls for second day on U.S.-China trade worries

Canadian miner Iamgold Corp. is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector , according to people familiar with the matter. Iamgold ’s plans could still change and there’s no guarantee it would succeed in selling itself, the people said.

Canadian miner Iamgold Corp. is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector , according to people familiar with the matter. Iamgold 's plans could still change and there's no guarantee it would succeed in selling itself, the people said.

A representative for Iamgold declined to comment.

Megamerger Push Has Gold Miners Looking for Dance Partners

Shares of Iamgold closed up 9.4%, valuing the company at about C$1.6 billion ($1.2 billion). The stock had fallen 36% this year through Wednesday. Some analysts have cut their ratings for the stock, expressing concern about its weaker-than-expected results, the increased risk to its 2019 guidance, and uncertainty around its Westwood project in Quebec.

The decision to explore a sale follows several sizable mergers in the gold space, including Newmont Mining Corp.’s $12 billion acquisition of GoldCorp Inc. and Barrick Gold Corp.’s $7.8 billion acquisition of Randgold Resources Ltd.

(Updates shares in fifth paragraph.)

--With assistance from Danielle Bochove.

To contact the reporters on this story: Scott Deveau in New York at [email protected];Dinesh Nair in London at [email protected]

To contact the editors responsible for this story: Elizabeth Fournier at [email protected], ;Aaron Kirchfeld at [email protected], Michael Hytha, Liana Baker

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

Read more

‘Cash crunch’: Canada’s shrinking junior mining sector struggles for relevance — and deals.
Cannabis companies raised $4 billion in 2018 compared to $217 million by mining companies . On the TSX-Venture exchange, in 2019, a list of the top ten companies, ranked by the value of shares that were bought or sold included just one mining company and eight cannabis companies. In 2016, those figures were reversed with nine mining companies and one cannabis company on the list. Meanwhile, a key area of financing, bought deals — in which a bank agrees to buy a set amount of stock from a company — has declined dramatically.

—   Share news in the SOC. Networks

Topical videos:

usr: 3
This is interesting!