Canadian gold producer Endeavour Mining has received a $47.5-million cash injection after its largest shareholder, Egyptian billionaire Naguib Sawiris’s La Mancha Holding exercised its anti-dilution right to re-increase its stake from its current 28.1% interest to its initial 29.9% ownership position.
“This additional investment by La Mancha, which has to-date injected approximately $190-million in Endeavour, further demonstrates its long-term support and its strong conviction in our ability to continue to create shareholder value,” Endeavour president and CEO Sébastien de Montessus stated.
