Is Oceana Gold about to involved in a takeover bid by Lihir Gold?
OGD Announcement 10/05/2006 11:15AM
"Share Price Movement
Oceana Gold Limited notes that there has been significant appreciation in
its share price over the last 24 hours. The Company is in discussions with
regard to a potential transaction. The discussions are ongoing and
incomplete and there is no certainty that any transaction will proceed.
OceanaGold will keep the market informed should there be any developments
which require an announcement."
http://sg.biz.yahoo.com/060424/15/409ir.html
INTERVIEW: Lihir Looking For Asia-Pacific Acquisitions
Monday April 24, 1:40 PM
MELBOURNE (Dow Jones)--Looking to cut the risk of owning a lone mine on a
volcanic island, Papua New Guinea's Lihir Gold Ltd. (LIHRY) said Monday
that it is considering large acquisitions in the Asia-Pacific region...
Acquisitions in the Asia-Pacific region, likely outside of Papua New
Guinea, will cut Lihir's risk profile and boost returns, [new chief
executive Arthur] Hood told Dow Jones Newswires in an interview.
Hood said Lihir is already looking at some opportunities but wouldn't be
drawn on the timing or size of any acquisition, saying only that it was
unlikely to be small.
"It's got to be something material to our shareholders that will add
shareholder value, so obviously a 50,000 ounce a year operation," won't be
big enough, said Hood, who joined Lihir in September.
...
Austock Ltd. analyst Hunter Hillcoat said the company would be looking to
add well over 200,000 ounces of production a year
...
Smaller miners in the region include Oceana Gold Ltd. (OGD.AU), which
produces about 200,000 ounces a year in New Zealand, and Resolute Mining
Ltd. (RSG.AU) which produces about 180,000 ounces of gold a year at its
Ravenswood operation in Queensland and in January approved an extension at
Mt Wright. It also has growth prospects in Africa.
Sino Gold Ltd. (SGX.AU) is also currently expanding its operations in
China.