Loading ...OceanaGold confirms unsuccessful Alacer approaches
ERTH (miningweekly.com) – Dual-listed gold miner OceanaGold on Friday confirmed that it had made several attempts to gain control of fellow gold miner Alacer Gold.
Responding to market speculation, OceanaGold told shareholders that since February this year, the company had made a number of approaches to Turkey-focused Alacer, seeking to explore the merits of a potential business combination.
However, Alacer has to date withstood the approaches, saying it was interested in neither a business combination, nor mutual information exchange with OceanaGold.
Alacer, in turn, told its shareholders that although approached from time to time by third parties, the company had no current intention of pursuing a corporate transaction.
Both companies confirmed that they were not currently in any discussions.
Alacer owns an 80% shareholding in the Çöpler mine, in eastern Turkey, which produced 271 063 oz of gold during 2013. During the next year, the project was forecast to produce between 160 000 oz and 180 000 oz of attributable ounces.
ASX- and TSX-listed OceanaGold owns gold-producing projects in New Zealand and the Philippines, and recorded production of 147 399 oz of gold and 11 185 t of copper in the first half of 2014
http://www.miningweekly.com/article/oceanagold-confirms-unsuccessful-alacer-approaches-2014-09-19