Endeavour to acquire Avion Gold Corp
August 08, 2012 10:21 AM
Dual listed Endeavour Mining Corp (ASX:EVR) is set to acquire Canadian based gold mining company Avion Gold Corporation (TSX:AVR, OTCQX:AVGCF) pending shareholder and regulatory approval. Endeavour expects the acquisition to deliver increases in gold production by about 50 per cent for the year. The Africa focussed miner recently boosted its full year production guidance by 8 per cent, on the back of a solid performance in the first half of the year. In line with the growth of the business, Endeavour also announced it’s expanding its board and management team. Endeavour Mining Corporation booked a net loss of $19.8 million in the 2011 calendar year.