Date: 5/12/2006 Author: Jo Clarke Source: The Australian Financial Review --- Page: 47 Avoca Resources is believed to be close to negotiating a deal to gain control of Croesus Mining's Norseman mine. In early December 2006, Avoca is reportedly discussing a transaction with the administrators of Croesus, under which it would pay a price ranging from between $A35 million and $A70 million for the Western Australian gold mine asset and surrounding territory. Pitcher Partners had set an asking price closer to $A100 million. However, while Croesus administrator, Bryan Hughes, has conceded a deal is close to being reached, he has declined to comment on the potential buyer or on the terms of the agreement. Avoca shares lifted $A0.02 on 4 December 2006, to $A1.44.
Avoca's share price up over 10% today with good volume - on no news???? ....mmmmmm!!
CRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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