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Gold/Mining/Energy : Repadre Capital - RPD.T

RPD 18.49

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9:52 AM EST

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To: John Dally who wrote (6)	10/29/2002 7:35:17 PM
From: John Sladek	Read Replies (1) of 9

A pair of small southern Ontario gold miners plan to merge in a $333 million stock swap that will create a new mid-sized player with 450,000 ounces of annual production. Iamgold Corp. of Markham, Ont. has mining properties in Africa and South America. Toronto's Repadre Capital Corp. is a natural-resource royalty company that invests in precious commodity holdings. The two companies said their respective boards of directors have unanimously approved the deal. Under the terms, Repadre stockholders would get 1.6 Iamgold shares for each Repadre share, working out to a $8.48 apiece. The new company would have annual production of 450,000 ounces from four operations, reserves of more than 3.4 million ounces of gold, expected annual cash flow of more than US$40 million US, no debt and a stock market value of $800 million. The merger is still subject to due diligence, regulatory approvals and a special meeting of Repadre shareholders, expected in January. ottawabusinessjournal.com

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