Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Catalpa Resources and Conquest Mining have agreed to merge and buy a new asset from Newcrest Mining, Perth Now reported.
The newspaper says the new entity will acquire a 70 percent stake in Newcrest’s Cracow gold mine and will also buy the Mt Rawdon gold mine from Newcrest:
In a statement to the Australian Securities Exchange Catalpa and Conquest said the merged company will be in a position to produce 400-450,000 ounces of gold by 2013, putting it into to the top five of the local gold producers.
The combined market cap would be about $1.2 billion.