Georgetown: Eagle Mountain Gold Corp. disclosed today that Omai Gold Mines Limited, a 95% owned subsidiary of IAMGOLD Corp., has acquired 3,236,246 shares of the company, increasing its total ownership to 14.93%.
The transaction follows the exercise of an option held by Eagle Mountain to acquire from OGML the remaining 50% interest in the advance-stage Eagle Mountain gold property in Guyana, which hosts a near-surface gold deposit of 188,000 indicated and 792,000 inferred gold ounces with considerable potential for expansion.
Omai was the company that had a large scale goldmine Region Seven before pulling out a few years ago.
According to Eagle Mountai, the closing of this transaction gives Eagle Mountain 100% ownership of the property, and establishes IAMGOLD indirectly as the company’s largest shareholder. Eagle Mountain is located just off Mahdia, a main gold mining district in Region Eight.
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