Interesting 51M shares crossed this morning.Thats approx 5% Good...

Interesting 51M shares crossed this morning.

Thats approx 5%

Good start to a blocking stake

No Idea who bought or sold but matbe we do have another party entering the ring

News item below also interseting - sorry its a little long

"Australia's largest gold miner Newcrest Mining Ltd.
(NCM.AU) said Thursday it has established a merger and acquisition team and is currently
assessing as many as five possible acquisitions.
Managing Director Ian Smith told shareholders at the miner's annual general
meeting in Melbourne that, while the company has to date grown through developing
internal projects, it now plans to also chase growth through M&A.
"We have reached a point in our development where we, quite rightly, should be
looking at every value-accretive M&A opportunity available throughout the
world," he said.
Smith said the miner is currently assessing between three and five publicly listed
acquisitions, but didn't name the targets.
Newcrest was looking for deposits that would have a minimum mine life of eight years
and produce more than 200,000 ounces of gold a year, Smith said.
"If we're going to look at an M&A opportunity we want it to be long term
so we're not looking at any small deposits," he told reporters after the
meeting.
With the North American gold players vigorously pursuing acquisitions, Smith said
Newcrest would be targeting projects where it believed it could use its expertise to
deliver upside through further discoveries in a way that other companies could not.
Newcrest told shareholders at the meeting that the recent restructure of the company,
through which it raised A$2 billion to close out its gold hedge book, would boost
cashflows and increase its ability to make acquisitions or develop any gold finds.
Some analysts believe the close out of the hedge book also makes Newcrest a more
attractive target to the North American gold majors, but Smith said the strong
performance of the stock meant it would be a big deal for any rival gold company.
"If another gold miner was to make an approach, the premiums that you are seeing
in the market, it would be a substantial takeover play," he said.
"We are getting pretty expensive if someone wants to take us over and the bass
metal players would never touch a gold player."
With the gold price threatening to break US$800 an ounce, Smith said tight supply and
growing demand look set to keep prices high.
"I think all the positive indicators are there that gold will stay at these levels
or higher for the next 12 months at least," he said.
The flip-side of high prices are the soaring costs that have hit the booming mining
industry, which this week prompted Oxiana Ltd. to announce a 30% blow out in the cost of
its Prominent Hill project.
However, Smith said there would be no change to the stated A$545 million price tag for
Newcrest's Ridgeway Deeps development in the state of New South Wales.
A series of disappointments and downgrades at Newcrest's Telfer gold mine in
Western Australia have in the past undermined confidence in the company and Smith has now
outlined a more conservative strategy for the mine, once slated as a million ounce a year
producer, to produce between 700,000 ounces and 750,000 ounces a year.
Smith said the company is confident of delivering what it has promised on Telfer and
hopes market confidence in the operation is also returning.
"I hope we are in a position now where people have confidence in what we
say," he said.
Newcrest has signaled it is looking at selling its stake in the Cracow gold mine in
Queensland and Smith said more than 20 potential buyers have already signed
confidentiality agreements.
Newcrest won't consider offers below A$200 million, he said."