Endeavour and Teranga Announce Combination to Create New Senior Gold Producer
Richard Young, President and Chief Executive Office of Teranga, said: We have taken Teranga from a single asset producer to a low cost, mid tier gold producer over the past few years.
- Richard Young, President and Chief Executive Office of Teranga, said: We have taken Teranga from a single asset producer to a low cost, mid tier gold producer over the past few years.
- Teranga is a low cost, mid tier gold producer in West Africa with two producing gold mines and an attractive growth pipeline in Senegal, Burkina Faso and Cte dIvoire.
- Both Endeavour and Teranga shareholders to benefit from potential re-rating driven by the creation of a new best-in-class senior gold producer with among the lowest costs and highest cash flow yield of the senior gold group.
- Figure 3: Senior Gold Producers Trading Multiples6
The major shareholders of both Endeavour and Teranga strongly support the transaction.