Endeavour unveils $20.2 million investment in Altair Minerals
Endeavour Mining Corp. (EDV-TSX-LSE, EDVMF-OTCQX,) is making a strategic investment in Australian company Altair Minerals via a non-brokered private placement with a gross commitment of approximately $20.2 million. The placement, comprised of 656.3 million fully paid ordinary shares was completed at an issued price of A$0.043 per share (A$28.2 million), marking a 5.0% premium to Altair’s last closing price on April 24, 2026.
The placement has been exclusive to Endeavour, which is expected to become a 9.9% shareholder of Altair following completion of the placement.
Altair operates the recently consolidated Greater Oko land package located immediately adjacent to G Mining Ventures Corp.’s [GMIN-TSXV, GMINF-OTCQB] Oko West and G2 Goldfields Inc.’s [GTWO-TSXV, GUYGF-OTCQX] Oko-Ghanie projects in Guyana.
G Mining recently said it has struck definitive deal that will see the company acquiring all the outstanding shares of G2 Goldfields pursuant to a court-approved plan of arrangement worth approximately $3.0 billion
That transaction aims to deliver district-scale consolidation by combining Oko West with Oko-Ghanie Project into a single Tier 1 entity, to be known as the Oko Project, producing approximately 500,000 ounces of gold annually.
Altair said Endeavour’s investment demonstrates the growing interest by major mining firms globally in Guyana’s untapped gold industry.
The investment in Altair also forms part of Endeavour’s new 2026 new 2026 to 2030 exploration strategy focused on replacing production depletion and adding new greenfield opportunities into its organic growth pipeline.
On Monday, Endeavour shares eased 1.46% or $1.215 to $81.63. The shares currently trade in a 52-week range of $98.71 and $36.91.
Proceeds from Endeavour’s strategic investment will be used to increase the current drill program to 50,000 metres, including at least 30,000 metres at the South Oko prospect, accelerate a geochemical sampling program at the South Oko prospect, and launch a regional exploration program at the land package.
Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Ivory Coast, and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian greenstone belt across West Africa.
Endeavour achieved that position after striking a deal three years ago to acquire another West Africa-focused company Teranga Gold Corp., in an all-share transaction worth $2.44 billion (US$1.86 billion).
The combination created a new top ten senior gold producer with average annual production of more than 1.5 million ounces from six core operating mines.
The combined company also has a development pipeline of six greenfield projects across the underexplored Birimian Greenstone Belt. In a press released on April 23, 2026, the company released results of a feasibility study for the Assafou-Dibibango project in Cote d’Ivoire which has the potential to become a cornerstone asset for Endeavour, producing 320,000 ounces of gold annually in the first eight years of production.
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