News: Conquest makes submission to Takeovers Pane

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Conquest Mining Ltd (ASX:CQT) says North Queensland Metals (ASX:NQM) shareholders were given incorrect information about the company's bid, in a submission to the Australian Government Takeovers Panel.

North Queensland Metals has been the centre of takeover bids from rival miners Conquest and Heemskirk Consolidated Ltd (ASX:HSK).

Earlier this month North Queensland recommended its shareholders not accept Conquest's scrip offer and backed Heemskirk's bid.

The Takeovers Panel says that Conquest seeks orders including that North Queensland Metals lodge a replacement target statement correcting disclosure issues and provide this information to their shareholders.

Conquest Mining reported a loss of $1.15 million for the year ending 30 June 2009.