Multimillionaire becomes cornerstone investor in Teranga Gold

David Mimran, financier, Hollywood movie producer and chief executive officer of his family’s Mimran Group, whose wealth stems from agri-industry (flour, sugarcane, grain, animal feed) to banking, shipping and real estate, has taken a 9.9% stake in Canadian junior Teranga Gold (TSX: TGZ). The Mimran Group is the largest private sector employer in Senegal, where Teranga’s Sabodala open pit gold mine – the country’s largest commercial gold mine and mill – has been producing the precious metal since 2009. “He and his family are active in French West Africa with a number of businesses. He’s bullish on gold, and the family was looking to diversify from their current core holdings,” says Richard Young, Teranga’s president and chief executive officer. It was Mimran who first approached the company … Read the complete article at NorthernMiner.com/news/ teranga-gold