Ea­gle soars on Mali merger

Townsville Bulletin - - Investor -

EA­GLE Eye Met­als Ltd shares soared to record highs on news the ju­nior ex­plorer will ac­quire West African gold projects through the rec­om­mended scrip takeover of Bir­im­ian Gold Ltd. Ea­gle Eye shares fin­ished up seven cents, or 107.69 per cent, at 13.5 cents af­ter reach­ing an in­tra­day peak of 25 cents. The com­pany has en­tered into a mem­o­ran­dum of un­der­stand­ing with Bir­im­ian’s board whereby Ea­gle Eye has of­fered three of its shares for each Bir­im­ian share. This val­ues the tar­get at about $ 5.7 mil­lion, based on Ea­gle Eye’s higher share price yes­ter­day.

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