"Commenting on the transaction, Kingsgate Chairman, Ross Smyth-Kirk, said ?This is a continuing step in Kingsgate?s strategy to consolidate its position as the ASX?s premier midtier gold producer. The Arqueros project will expand Kingsgate?s feasibility and development pipeline and will provide a potential operational cornerstone into Chile and South America...."
At http://www.hotcopper.com.au/asx_announcements.asp?id=227264
As a KCN shareholder I decided I had to get a piece of this action.
I'll be thrilled if KCN can pull this off, as then I will be getting inexpenssive KCN shares for my investment in LRC, plus adding very inexpensive gold to KCN's gold portfolio.
Alternatively there will be a superior takeover bid made by another company imo.
While this is an agreed takeover, it has not eliminated a superior bid which I expect KCN will counter should it eventuate imo.
LRC Price at posting:
$2.50 Sentiment: Hold Disclosure: Held
