Gold Fields sells Eldorado shares

Vancouver — Gold Fields (GFI-N) has sold its entire equity interest in Eldorado Gold (ELD-T) into the market.

Gold Fields’ predecessor, Gencor, acquired its initial shareholding in Eldorado in 1996 through Eldorado’s acquisition of a number of Gencor’s assets including the Sao Bento Mine in Brazil.

The major originally held a total of 30.5 million Eldorado shares, or 14.78%, and since late last year has been steadily divesting its interest. On Jan. 23, Gold Fields sold 10.5 million Eldorado shares, thereby reducing its stake to 19.98 million shares, or about 9.8%. Eldorado states that as of June 20, Gold Fields no longer holds shares in the company.

Eldorado operates the Sao Bento mine in Brazil and is currently developing its Kisladag gold deposit near Usak, Turkey. Eldorado has about 234.1 million shares fully diluted.

Print


 

Republish this article

Be the first to comment on "Gold Fields sells Eldorado shares"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close