- On May 8th 2008, IAMGOLD (IMG.to) (IAG) sold the La Arena gold property in La Libertad to a new start-up mining company created specifically for the deal.
- Its name, Rio Alto Mining Ltd (RIO.to) (RIOM).
- RIO.to paid IMG.to $47.6m plus 5.5% of the new company in shares*
- At the time of the deal, IMG.to had a market cap of $1.84Bn.
- At tonight's close, RIO.to has a market cap of $733.23m
- At tonight's close, IMG.to has a market cap of $659.57m
- Steve Letwin is still CEO of IAMGOLD.
All prices in Canadian Dollars.
*IMG sold those shares years ago