IAMGOLD Corp. reported that it has completed the acquisition of all of the issued and outstanding common shares of Merrex Gold Inc. not already owned by IAMGOLD. As a result, Merrex is now a wholly-owned subsidiary of IAMGOLD.
“With the acquisition of Merrex, we now own 100% of the Siribaya-Diakha project in Mali and its gold resource, which is estimated to be in excess of 1 million ounces as reported in our annual reserve and resource news release of February 22, 2017,” said President and CEO of IAMGOLD Steve Letwin. “This transaction consummates eight years of excellent work and partnership with the Merrex team that led to the discovery of the Diakha deposit. This project, along with the ongoing exploration and evaluation of our nearby Boto Gold project in Senegal, gives us a significant footprint from which to advance our 2017 goal to expand our current resources in this prolific region of West Africa.”