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Egyptian billionaire pays $492 million for La Mancha Resources

Michael Allan McCrae | July 13, 2012 | 8:30 pm Precious Metals Australia Europe Gold 

Naguib Sawiris, an Egyptian mobile phone entrepreneur, is paying $492 million for gold miner La Mancha Resources (TSE:LMA). The company's board has unanimously recommended that the shareholders accept the agreement. "The Offer represents a premium of approximately 55.6% to the...

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