BGF ballarat goldfields nl

lihir and ballarat to merge...

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    17/10/06
    09:38
    Post #: 1858675
    Source: www.news.com.au/business (breaking news)

    Merger creates major gold producer
    October 17, 2006 09:21am

    Lihir Gold Ltd and Ballarat Goldfields NL plan to merge to create a major Asia-Pacific gold producer.

    Announcing the proposed merger today, with the offer valuing Ballarat at $350 million, Lihir (lhg.ASX:Quote,News)and Ballarat said the combined group would have a strong growth profile.

    "The combined company will have two world class assets in Australia and Papua New Guinea, a strong growth profile, reducing costs and significant exploration opportunities," the pair said.

    -more to follow

    BGF Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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