Newmont buys 10% stake in Eurasian Minerals

摘要

US gold mining giant Newmont Miningnannounced Tuesday that its wholly ownednCanadian subsidiary acquired 2 millionncommon shares of Eurasian Mineralsnthrough a private placement at a price ofnC$2.20/share ($2.08/share) for grossnproceeds to Eurasian of C$4.4 million.nThe share purchase is part of a largern$5.28 million private placement EurasiannMinerals is pursuing with Newmont andnthe International Finance Corp., part ofnthe World Bank Group. The IFC is expect-ned to close its purchase of 400,000nEurasian shares for proceeds ofnC$880,000 shortly. Following the privatenplacement, Newmont will own aboutn10.18% of Eurasian shares, based onn36,348,522 current outstanding shares.nThe shares were acquired for investmentnpurposes, Newmont said in a statement.n“In the future, Newmont and its affiliatesnmay increase or decrease their owner-nship in the securities of Eurasian,ndepending on the business andnprospects of Eurasian as well as marketnconditions,” Newmont said. Vancouver-nbased Eurasian is a minerals explorationncompany with sites in Turkey, thenKyrgystan, Sweden, Haiti and the US.