28th Sep 2018 16:33
LONDON (Alliance News) - FTSE 100-listed miner Randgold Resources Ltd on Friday refuted claims by Societe de Miniere de Kilo-Moto SA that the merger between Barrick Gold Corp and Randgold will lead to to the appointment of a new partner in the Kibali joint venture.
Randgold currently holds a 45% interest in the Congolese joint venture Kibali Goldmines SA, while Societe de Miniere holds 10%. The other joint venture partner is AngloGold Ashanti Ltd.
On Monday, Randgold agreed to an all-share merger with Barrick Gold, with Randgold shareholders recieving 6.1280 Barrick shares per Randgold share - following the deal, Barrick shareholders will own just short of 67% of the new company with Randgold's holding the rest.
The merger is expected to complete by the end of the first quarter of 2019.
Shares in Randgold Resources closed up 3.5% at 5,446.00 pence each on Friday.
Related Shares:
Randgold Resources