kcn andean no love lost...kcn owns 19.7pc gdr

In the Kingsgate Quarterly Report, the company states...

"Kingsgate has offered both technical and financial support to Andean, all of which have been rebuffed by the company. Although portrayed as such, Kingsgate has never considered its approach to be hostile to the interests of Andean shareholders and is most disappointed the Andean Board has recently decided to ignore its major shareholder...and make a placement to selected Australian institutions.

Kingsgate will keep its options open on future progress on the matter."

Ouch! I hope this doesn't spur them into seizing GDR for fear that Goldstar may also view any manoeuvre as hostile and opportunistic.

IMO, Kingsgate is desperate for the market to see them as more than a one mine company, especially when production disappoints as it has this quarter plus the negative investor sentiment towards the selldown and the "coup d'etat"...dispite the company's claim that everything is business as usual. LOL!

Regards
SCD