Former Emperor Mines chief Colin Patterson appears to have quite a fondness for Burdekin Pacific’s Mt Kasi gold project.
It turns out that Patterson, part of the latest push to overthrow the current Burdekin board, has previously tried to get a finger on the Fijian project three times in the past 5½ years.
Burdekin and its long-time managing director Gino Vitale, who survived a similar coup attempt back in May, have once again gone into defence mode and launched a stinging attack on Patterson and his supporters. These include the instigators of the last boardroom push, led by major shareholder Gateway Mining and associated Sydney-based PR group Farrington Corporate Services.
In the latest batch of guff sent to Burdekin’s shareholders before this month’s meeting, the company highlights that Patterson first made an offer to buy a 51 per cent interest in Mt Kasi in March 1999 when he was managing director of Emperor.
That offer, according to Burdekin was rejected by the board as “inadequate”.
In November 2002 Patterson again approached the company, this time as a director of Phoenix Gold Fund, of which he is now a director, to take a substantial placement of shares in Burdekin and in the process become the biggest shareholder.
Again, according to Burdekin, agreement could not be reached.
Then in May this year Patterson, as managing director of unlisted Zedex Minerals, tried to initiate a Mt Kasi joint venture or a Burdekin merger.
The Burdekin board considered a formal written offer but rejected it as “commercially inadequate”.
Interestingly, Patterson only became a shareholder in Burdekin with 400,000 shares in September, the same time the latest coup kicked off."
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