Eureka Gold Mine went cheap, says UK firm

Eureka Gold Mine went cheap, says UK firm
Published: 29 June 2018
The acquisition of the Eureka Gold Mine by global mining group, Vast Resources' was an "exceptionally cheap acquisition", according to a United Kingdom-based independent research company, Equity Development.

Earlier in April, Vast Resources - through its subsidiary Dallaglio Investments (Pvt) Ltd - acquired a 95 percent interest in Delta Gold Zimbabwe (Pvt) Ltd, which operates the Eureka Gold Mine for $4,5 million.

The $4,485 million purchase price of the gold mine was financed by a loan from sub-Sahara Goldia Investments (SSGI) to Dallaglio. However, analysts at Equity Development say the deal was cheap and foresee an easy recovery of the mine as well as significant benefits accruing to the major shareholder, Vast Resources.
- Business Weekly
Tags: Mine, Gold,


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