Currently viewing Global edition

Drogba pass lifts Endeavour's Ity stake

Intermediate gold producer Endeavour Mining has increased its ownership stake in the Ity mine, in Côte d'Ivoire, from 80% to 85%.
Drogba pass lifts Endeavour's Ity stake Drogba pass lifts Endeavour's Ity stake Drogba pass lifts Endeavour's Ity stake Drogba pass lifts Endeavour's Ity stake Drogba pass lifts Endeavour's Ity stake

Endeavour has upped its stake in the Ity mine in Côte d'Ivoire

Staff Reporter

The company said it bought the 5% stake from former UK-based Chelsea footballer Didier Drogba - a Cote d'Ivorian.

Endeavour granted Drogba's DYD International 1.07 million common shares which were equal to about US$15 million (C$20 million), based on the signing reference share price of C$18.50 a share.

The transaction was signed on December 21 and closed on Thursday.

As a result of the transaction, Endeavour now owns 85% of the Ity mine, the government of Côte d'Ivoire 10% and state-owned mining company Sodemi the remaining 5%.

The company's stock (TSX:EDV) is down 11.22% over the past 12 months, and closed down 0.32% or C7c on Friday at $21.67, capitalising the miner at $2.34 billion.