Botswana Stock Exchange listed and Toronto-based Iamgold has made a bid of BWP 1.20 a share for Euro Resources, which has a royalty agreement on its Rosebel mine. Euro Resources, a French company, was up 26% on the back of the announcement.
Clearly, this clears up the capital structure and obviously Iamgold knows what the mine is worth, so it looks like its good news for everyone.
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