EURO Ressources reports earnings for the third quarter and nine months ended September 30, 2018 - Seite 4

About EURO

EURO is a French company whose principal asset is a gold production royalty from the Rosebel gold mine in Suriname (the "Rosebel royalty"). The Rosebel gold mine is 95%-owned by IAMGOLD Corporation ("IAMGOLD"), and is operated by IAMGOLD.  EURO has approximately 62.5 million shares outstanding.  At September 30, 2018, IAMGOLD France S.A.S. ("IAMGOLD France"), a wholly owned subsidiary of IAMGOLD, owned approximately 89.71% of all issued outstanding shares of EURO. Per the regulation (Article L.233-7 of the French Commercial Code), IAMGOLD France declared it had exceeded, on September 23, 2018, the threshold of 90% of the voting rights of EURO.  As at September 30, 2018, IAMGOLD France held 56,058,191 shares representing 112,116,382 voting rights or 94.25% of the voting rights of EURO.  This threshold crossing results from a double voting rights allocation.

EURO receives quarterly royalty payments from IAMGOLD.  The Rosebel royalty payments from IAMGOLD apply to the first seven million ounces of gold production at the Rosebel mine and the market price of gold based on the Afternoon London Price.  As of September 30, 2018, the Rosebel mine produced 4.9 million ounces of gold and 2.1 million ounces of gold remain under the Rosebel royalty agreement.  Per IAMGOLD, Rosebel's proven and probable gold reserves as at September 1^st, 2018 were estimated to be 3.45 million ounces of gold (December 31, 2017: 3.51 million ounces of gold).  These reserves do not include reserves of the Saramacca deposit of the Rosebel mine as they are not included in the definition of the property per the participation right agreement.  The Rosebel royalty is calculated based on 10% of the excess gold market price above US$300 per ounce for soft and transitional ore, and above US$350 per ounce for hard rock ore, and, in each case, after deducting a fixed royalty of 2% of production paid in-kind to the Government of Suriname.

Statements Regarding Forward-Looking Information:   Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties.   There can be no assurance that future developments affecting the Company will be those anticipated by management.

Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States or to a U.S. person absent registration, or an applicable exemption from the registration requirements of the Securities Act.

Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com.  Further requests for information should be addressed to:

Benjamin Little Directeur-Général Tel: [phone] Email:  [e-mail]

Line Lacroix Directeur-Général Délégué Tel: [phone] Email : [e-mail]

EURO Ressources: earnings for the Q3 & 9 months ended Sept.30, 2018

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This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EURO Ressources via Globenewswire