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Canada's Fortuna pushes into West Africa with $884 million Roxgold deal


By Reuters Staff
2 Min Read
(Reuters) - Shares of Fortuna Silver Mines Inc tumbled as much as 14% on Monday after the Canadian company said it would buy West Africa-focused gold miner Roxgold Inc in a cash-and-stock deal valued at about C$1 billion ($884.32 million).
Fortuna, which operates in Peru, Mexico, and Argentina, would acquire Roxgold’s projects in Burkina Faso and Côte d’Ivoire with an expected annual gold equivalent combined production of 450,000 ounces.
Roxgold stock price climbed sharply while Fortuna’s Toronto-listed shares fell, reflecting investor unease over security in the volatile Sahel region.
Despite the security risks of operating in Burkina Faso, the country is attractive for gold miners as the cost of producing the metal is much lower compared with the rest of the world. At a time of high gold prices, that translates into hefty margins for miners. ....

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Fortuna shares tumble on $884 million deal for West Africa-focused Roxgold


By Reuters Staff
2 Min Read
(Reuters) - Shares of Fortuna Silver Mines Inc tumbled as much as 14% on Monday after the Canadian company said it would buy West Africa-focused gold miner Roxgold Inc in a cash-and-stock deal valued at about C$1 billion ($884.32 million).
Fortuna, which operates in Peru, Mexico, and Argentina, would acquire Roxgold’s projects in Burkina Faso and Côte d’Ivoire with an expected annual gold equivalent combined production of 450,000 ounces.
Roxgold stock price climbed sharply while Fortuna’s Toronto-listed shares fell, reflecting investor unease over security in the volatile Sahel region.
Despite the security risks of operating in Burkina Faso, the country is attractive for gold miners as the cost of producing the metal is much lower compared with the rest of the world. At a time of high gold prices, that translates into hefty margins for miners. ....

Burkina Faso , Region De La Boucle Du Mouhoun , Jorgea Ganoza , Jeff Lewis , Arunima Kumar , Nick Zieminski , Thomson Reuters Trust Principles , Appian Natural Resources Fund , Roxgold Inc , Fortuna Silver Mines Inc , West Africa Focused , Endeavour Mining , West Africa Focused Teranga Gold , Chief Executive Officer Jorge , Natural Resources Fund , Thomson Reuters Trust , புர்கினா ஃபாஸொ , ஜெஃப் லெவிஸ் , அருணிமா குமார் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , அப்பிளின் இயற்கை வளங்கள் நிதி , அதிர்ஷ்டம் வெள்ளி சுரங்கங்கள் இன்க் , முயற்சி சுரங்க , தலைமை நிர்வாகி அதிகாரி ஜார்ஜ் , இயற்கை வளங்கள் நிதி , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,