Yamana Stock- Endeavour Mining considers London listing
Endeavour’s management team is already based in London, so favouring the listing in the UK wouldn’t come as a surprise.
The London exchange lost its top gold company last year, when Randgold Resources delisted after being acquired by Barrick Gold.
Endeavour saw its share price rise by more than 60% from March, when it announced it was acquiring Semafo, to early July, when the it completed the deal.
Among top dogs
With a market cap of C$5.3 billion (about $4bn), the miner would be amongst the most valuable precious metals companies currently listed on the LSE. These include Russian duo Polyus (LON: PLZL) and Polymetal International (LON: POLY), Mexico-focused Fresnillo (LON: FRES) and incoming Canadian Yamana Gold (LON: AUY), all of whom have a market value of more than $4.5bn.
Endeavour Mining confirmed last week it expected to produced more than one million ounces of gold this year.
After incorporating Semafo’s operations in its second-quarter financial and operating results, the company said it aims to churn out between 995,000 to 1,095,000 million ounces of the precious metal in 2020, at all-in-sustaining cost targets of between $865 to $915 per ounce.
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