Iamgold To Spend $620M On Gold-Rich Trelawney Mining

Law360, New York (April 27, 2012, 3:07 PM EDT) -- Toronto-based mining company Iamgold Corp. will continue to expand its home-country operations in a CA$608 million (US$620 million) deal that includes the gold-rich flagship of fellow Canadian firm Trelawney Mining and Exploration Inc., the two announced Friday.

In the deal, Iamgold would acquire all Trelawney stock to assume ownership of its Cote Lake Project, whose estimated gold reserves would nearly double Iamgold's existing estimated cache. The site is more than 200 miles northwest of Sudbury, Ontario.

Existing Trelawney investors are set to receive $3.30 per share,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.