Endeavour was considering the potential merger with Teranga Gold Corporation, a Canadian-based gold mine with complimentary assets including the Sabodala and Wahgnion operations and the Massawa Project in early phases of development.
Project Solutions and Approach
MineScope was engaged to undertake a full technical due diligence on the potential merger with Teranga and assembled a bespoke team of discipline experts calibrated with both Endeavour’s acquisition approach and the scale and location of the assets under consideration. The Due Diligence was conducted in two phases to maximise value of key resources and control upfront costs. This all occurred during major COVID disruptions requiring innovative approaches to data sharing, team co-ordination, site visits and alignment with both parties.
Outcomes and Achievements
MineScope prepared a full Due Diligence report and Board presentations outlining the key Risks and identified Opportunities, and showcasing the De-Risked, Base Case and Upside scenarios for the acquisition. The Teranga merger/acquisition successfully completed in January 2021. Subsequently, MineScope provided ongoing assistance to Endeavour to integrate the two acquired operating assets and provide additional technical and project support for the development and delivery of the new Massawa Project.