Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Monday, February 17, 2020  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 29° Partly Cloudy
News >  Nation/World

Cda Mines Boosts Stake In Eagle Mining

By From Staff And Wire Reports

Coeur d’Alene Mines Corp. has filed notice with the Australian Stock Exchange that it now owns 5.5 percent of the Eagle Mining Corp., based in western Australia.

Coeur began buying Eagle shares in May. It has purchased 4.2 million shares of stock for an average of $2.69 a share.

Eagle owns an Australian gold mine that produces 117,000 ounces of gold and has 800,000 ounces in reserve. Eagle’s market value is $190 million, Coeur officials said.

Coeur said it chose to invest in the company for its high ore grades and low production costs.

Last week Great Central Mines Ltd. proposed a takeover of Eagle, but Eagle rejected the deal.

Coeur officials declined comment on whether the company would purchase more Eagle shares. , DataTimes

Subscribe to the Morning Review newsletter

Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter.

You have been successfully subscribed!
There was a problem subscribing you to the newsletter. Double check your email and try again, or email