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    gold investing

    Iamgold Acquires Trelawney Mining

    Investing News Network
    Apr. 27, 2012 11:40AM PST
    Precious Metals

    Globe and Mail reported that Iamgold (NYSE:IAG) has acquired Trelawney Mining (TSXV:TRR) for $608 million.

    Globe and Mail reported that Iamgold (NYSE:IAG) has acquired Trelawney Mining (TSXV:TRR) for $608 million.

    As quoted in the market news:

    The all-cash acquisition occurs at a time when junior gold companies have seen their equity valuations beaten down by investors who have shirked the sector for less risky, higher-yield assets. Iamgold paid $3.30 a share for Trelawney, a 37 per cent premium to recent trading activity but a far cry from its year-ago high of nearly $6 a share.

    Click here to read the full Globe and Mail report.

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