Resource Wrap: 02 December 2009 – BSL, SGX
December 1, 2009
BlueScope Steel Limited (BSL) said it would complete construction of a second metallic coating line plant at its Cilegon, Indonesia plant. Following the commissioning of the new plant, expected to be in 2011, the total capacity would rise to 265,000 tonnes per annum of metallic coated and 160,000 tonnes per annum of painted steel. The total cost of the expansion is expected to be around US$126 million, the company said.
Sino Gold Mining Limited (SGX) said shareholders have voted in favour of Canada’s Eldorado Gold Corporation’s proposed acquisition of the China focussed Australian gold miner. Sino Gold said the requisite majorities of its shareholders voted to approve the schemes of arrangement at Scheme Meetings held in Sydney earlier today. Under the agreement Eldorado would acquire all Sino Gold shares that it does not currently own, and an Option Scheme under which all Sino Gold options would be cancelled, in return for the payment of scheme consideration to Sino Gold shareholders. Sino Gold said 99.81% voted in favour of the merger proposal. The company said it would apply to the Federal Court of Australia for orders approving the schemes at a hearing scheduled for Friday, 4 December 2009.
Sino Gold Mining Limited (SGX) said shareholders have voted in favour of Canada’s Eldorado Gold Corporation’s proposed acquisition of the China focussed Australian gold miner. Sino Gold said the requisite majorities of its shareholders voted to approve the schemes of arrangement at Scheme Meetings held in Sydney earlier today. Under the agreement Eldorado would acquire all Sino Gold shares that it does not currently own, and an Option Scheme under which all Sino Gold options would be cancelled, in return for the payment of scheme consideration to Sino Gold shareholders. Sino Gold said 99.81% voted in favour of the merger proposal. The company said it would apply to the Federal Court of Australia for orders approving the schemes at a hearing scheduled for Friday, 4 December 2009.
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