- Teranga Gold released its Q4 results last week and delivered a record quarter, which contributed to a massive beat on FY2020 guidance.
- The company's Sabodala-Massawa Mine Complex continues to ramp up smoothly, producing over 79,000~ ounces in Q4 alone, confirming the attractiveness of the acquisition from Barrick.
- This strong quarter is great news for Endeavour Mining which is getting ready to benefit from Teranga's operational excellence and robust mines, with the merger likely to close by March.
- Unlike many mergers in the sector that don't offer much upside or synergies, this deal makes sense and is clearly 1+1 = 3, so I would expect Teranga shareholders to benefit from their new investment in Endeavour once the deal closes.
For further details see:
Teranga Gold: Another Blowout Quarter In Q4