Eldorado Gold (TSE:ELD) announced today it will acquire Brazauro Resources (TSEV:BZO) for about $122.4 million, in a straight stock sharing deal.
The major property Eldorado is getting in the deal is the Tocantinzinho Project in Tapajos, Brazil, which they will get full control over.
Other exploration projects involved are Agua Branca and Piranhas, which are nearby the Tocantinzinho Project.
At this time the Tocantinzinho Project has a measured and indicated resource of 1.9 million ounces of gold.
Eldorado offered 0.0675 of one share for each share of Brazauro. That is a hefty 76 percent premium over its Tuesday closing price.
Showing posts with label Brazil Mining. Show all posts
Showing posts with label Brazil Mining. Show all posts
Wednesday, May 12, 2010
Thursday, March 18, 2010
Yamana Gold's (NYSE:AUY) Success in Brazil
Yamana Gold and Brazil
Yamana Gold (NYSE:AUY) has a solid base in Brazil, and in fact solidified and built the company around that base to the strong stock it is today.
Many people consider Brazil and other South American countries difficult places to do business, but that's mostly because of the over-emphasis on some trouble spots which are unique to themselves, and not how it is across most of the country.
That's why many investors shy away from mining or other companies doing business in Mexico as well. Even though there has been a long history of support and continuity in Mexico, especially for mining, the focus of the media on the more troubling gang warfare in the border cities of the country make it look like it's like that all across Mexico, which it isn't.
Yamana understood this with Brazil and being willing to take a calculated risk has built up a nice company their shareholders are profiting from.
Yamana Gold (NYSE:AUY) has a solid base in Brazil, and in fact solidified and built the company around that base to the strong stock it is today.
Many people consider Brazil and other South American countries difficult places to do business, but that's mostly because of the over-emphasis on some trouble spots which are unique to themselves, and not how it is across most of the country.
That's why many investors shy away from mining or other companies doing business in Mexico as well. Even though there has been a long history of support and continuity in Mexico, especially for mining, the focus of the media on the more troubling gang warfare in the border cities of the country make it look like it's like that all across Mexico, which it isn't.
Yamana understood this with Brazil and being willing to take a calculated risk has built up a nice company their shareholders are profiting from.
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