© Reuters.
TORONTO – Fairfax Financial (TSX:) Holdings (OTC:) Limited (TSX: FFH and FFH.U), through its insurance company subsidiaries, has purchased an additional 2 million common shares of Orla Mining Ltd. (TSX: OLA), a move that increases its total holdings to approximately 15.46% of Orla’s issued and outstanding common shares. The shares were acquired at a price of $4.65 each, totaling around $9.3M (NYSE:).
Prior to this transaction, Fairfax’s insurance subsidiaries already owned 46,611,791 common shares, representing about 14.82% of Orla. The recent acquisition through the raises Fairfax’s stake by roughly 0.64%, bringing its total to 48,611,791 common shares.
Fairfax has stated that the shares were acquired for investment purposes. The company has indicated that it may engage in discussions with Orla’s management or board of directors regarding potential transactions and may alter its investment based on market…
