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AUSTRALIA'S KINGSGATE URGES ANDEAN SHAREHOLDERS TO ACCEPT OFFER.
SYDNEY, March 1 Asia Pulse - Gold miner Kingsgate Consolidated Ltd (ASX:KCN) has urged Andean Resources Ltd (ASX:AND) shareholders to accept its $A105 million ($US77.82 million) takeover bid, saying it has the expertise and size to accelerate the development of Andean's flagship Cerro Negro gold project in Argentina.
Kingsgate has offered one share for every 15 held by Andean valuing the the target's shares at 39.1 cents.
Kingsgate said its expertise and financial capability, will ensure maximum value is delivered to shareholders in the shortest possible time frame from the Cerro Negro Project.
"Kingsgate has operated in South America for a number of years and recognises the region's prospectivity for epithermal gold deposits which have similar characteristics to the Chatree mine," the company said.
"Kingsgate believes its skills and experience can be brought to the exploration and development of the Cerro Negro Project, thereby maximising potential returns for all shareholders.
Kingsgate also said in its bidder's statement that its size will be of further benefit to Andean investors.
"By accepting Kingsgate's offer, you will become a shareholder in a larger, well financed company which offers ... a strong platform for growth provided by the cashflow generated by the Chatree operation (in Thailand) and the company's portfolio of prospective ...
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- News wire article from: The America's Intelligence Wire March 3, 2006 700+ words
...asset is that of the Cerro Negro gold mine in Santa Cruz. Kingsgate would pay a total...Resources and acquire Cerro Negro's gold reserves...and other areas at Cerro Negro to assess its potential...a real success. Kingsgate possesses the required...
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- News wire article from: The America's Intelligence Wire March 2, 2006 700+ words
...Australian mining group Kingsgate launched a bid last...gold-mining project Cerro Negro, 110 kilometres from...accept the bid in which Kingsgate offers a share in itself...the offer was made. Kingsgate would pay a total of...5mil) for Andean. Cerro Negro has reserves ...
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- News wire article from: The America's Intelligence Wire March 3, 2006 700+ words
...Argentina)) Australia's Kingsgate has launched a bid for 100...Argentina, specifically the Cerro Negro gold mine which Andean is...Andean acquired 51% of Cerro Negro in early 2004 for US$1...worth of exploration at Cerro Negro before selling up to Andean...
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- News wire article from: AsiaPulse News February 23, 2006 700+ words
...Thailand and said Cerro Negro fitted the bill. "Kingsgate has developed specialised...Kirk said. The Cerro Negro project does not...Smyth-Kirk said Kingsgate would be working...currently drilling at Cerro Negro and Kingsgate said a maiden resource...
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- News wire article from: AsiaPulse News April 24, 2006 700+ words
...flagship project, Cerro Negro in Argentina. It...to take no action. Kingsgate wants to increase the drilling at Cerro Negro to fast-track the...placed to deliver the Cerro Negro project to fruition. Kingsgate closed nine cents...
- AUST'S KINGSGATE CONSOLIDATED BOOSTS BID FOR ANDEAN RESOURCES.
- News wire article from: AsiaPulse News June 16, 2006 700+ words
...original bid comprised one Kingsgate share for every 15 Andean...Andean has previously said that Kingsgate's offer is opportunistic...undervalues its flagship project, Cerro Negro in Argentina. It also advised...AEST on Tuesday, July 11. Kingsgate shares last traded at $A4...
- AUSTRALIA'S ANDEAN RESOURCES SAYS KINGSGATE BID IS OPPORTUNISTIC.
- News wire article from: AsiaPulse News March 14, 2006 700+ words
...100 per cent owned Cerro Negro gold project in Argentina...let alone in the Kingsgate offer. He has urged...underway on a response to Kingsgate's bidder's statement...bidder's statement Kingsgate said it would increase the drilling at the Cerro Negro project to fast-track...
- AUSTRALIA'S KINGSGATE LIFTS STAKE IN ANDEAN RESOURCES.
- News wire article from: AsiaPulse News July 12, 2006 700+ words
...of the all-scrip bid. Kingsgate had originally offered one Kingsgate share for every 15 Andean...US78.84 million). Kingsgate, which launched the bid...targeting Andean for its Cerro Negro gold project in Argentina...
- KINGSGATE CONSOLIDATED UP 2.9% ON FIRM VOLUME.
- Magazine article from: Ozequities News Bites August 21, 2006 700+ words
...SIGNIFICANT' GOLD PROSPECTS July 12: KINGSGATE HAS 22.3% IN ANDEAN RESOURCES June 20...RESOURCES URGES REJECTION OF "SHRINKING" KINGSGATE OFFER May 15: ANDEAN URGES REJECTION OF KINGSGATE OFFER; CERRO NEGRO RESOURCE ANNOUNCED
- KINGSGATE CONSOLIDATED CLIMBS 3.5% ON LOW VOLUME.
- Magazine article from: Sector Report September 19, 2006 700+ words
...SIGNIFICANT' GOLD PROSPECTS July 12: KINGSGATE HAS 22.3% IN ANDEAN RESOURCES June 20...RESOURCES URGES REJECTION OF "SHRINKING" KINGSGATE OFFER May 15: ANDEAN URGES REJECTION OF KINGSGATE OFFER; CERRO NEGRO RESOURCE ANNOUNCED
Source: HighBeam Research, AUSTRALIA'S KINGSGATE URGES ANDEAN SHAREHOLDERS TO ACCEPT OFFER.