Resource Wrap: 22 June 2010 – KCN, DMM
June 22, 2010
Kingsgate Consolidated Limited (KCN) said a new high-grade gold mineralisation has been intersected to the east of the proposed Q Pits in the northern section of Kingsgate’s Chatree North Mine in central Thailand. The company said the best results include 14 metres at 5.86 grams per tonne gold from 169 metres down hole, including 9 metres at 8.11 grams per tonne gold from 171 metres depth. Kingsgate said another previous deeper high-grade intercept 380 metres to the south appears to be correlated, indicating the potential for an extensive underground mineralised zone.
DMC Mining Limited (DMM) directors have said they intend to accept Cape Lambert Resources Limited’s (CFE) revised 53c per share takeover offer in the absence of a superior proposal. However, in a statement released today DMC said its Board of Directors is unable to make a recommendation to shareholders in respect of either the Cape Lambert offer or Meijin’s rival offer at this time as no last and final statements have been made by either suitor in relation to their respective offers. DMC said its board considers the Cape Lambert offer to be superior to Meijin’s conditional cash offer.
DMC Mining Limited (DMM) directors have said they intend to accept Cape Lambert Resources Limited’s (CFE) revised 53c per share takeover offer in the absence of a superior proposal. However, in a statement released today DMC said its Board of Directors is unable to make a recommendation to shareholders in respect of either the Cape Lambert offer or Meijin’s rival offer at this time as no last and final statements have been made by either suitor in relation to their respective offers. DMC said its board considers the Cape Lambert offer to be superior to Meijin’s conditional cash offer.
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