our turn could be soon

Catalpa, Conquest call halts

The West Australian
June 15, 2011, 9:15 am

Fledgling gold producers Catalpa Resources and Conquest Mining have called trading halts citing "material transactions".

Catalpa recently described as "opportunistic" St Barbara's offer of a $349 million tie-up between the two companies based on a cash-and-scrip deal.

Catalpa operates the Edna May gold mine near Southern Cross and also holds a 30 per cent stake in the Newcrest controlled Cracow gold project in Queensland, where Conquest's main operations exist.

Conquest owns the Pajingo gold mine in Northern Queensland and the nearby Mt Carlton gold-silver-copper project.

St Barbara's proposal is the latest in a string of attempts at consolidation across the WA gold sector as companies vie to fill the gap separating the juniors from the majors.

Most recently, Avoca Minerals, at one time considered the most likely consolidator of the goldfields, agreed to merge with Toronto- listed Anatolia Minerals.

Catalpa shares last traded for $1.705 while Conquest shares last changed hands for 45 cents.

http://au.news.yahoo.com/thewest/business/a/-/wa/9643944/catalpa-conquest-call-halts/