Australia’s Perseus Mining has announced that the company’s acquisition of all the outstanding shares in Orca Gold was completed, bringing the company’s stake in the company to 100 percent.
Prior to the this, Perseus owned or controlled, indirectly through Per-seus Canada Holdings Ltd. (PCHL) shares that represented about 15 percent of the issued and outstanding Orca common shares.
“The aggregate consideration paid by PCHL pursuant to the Arrange-ment was satisfied by the issuance of 125,278,266 Perseus shares to Orca shareholders and deferred and restricted share unit holders valued at approximately C$200 million” (US$156 million), the Austra-lian miner said in a statement.
Perseus Mining says it currently operates three gold mines in Africa: Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire. Owing to the Orca Gold acquisition, the business also owns 70 percent of the Block 14 Development Project in Sudan, and a 31.4 percent stake in the Koné Gold Project in Cote d’Ivoire, according to Perseus Mi-ning.