Cons Minerals eyes the talent
By Barry FitzGerald
August 9 2005
The rumours and share tips have been flying thick and fast at the Diggers and Dealers bash, as you would expect when 1400 mining types, brokers, financiers and hangers-on squeeze into Kalgoorlie.
Most mentioned was a bid from Michael Kiernan's Consolidated Minerals for Chris Bonwick's nickel miner, Independence Group. The two men have definitely been talking to each other in and around the conference venue.
But everyone has. Not much credence is given to the takeover rumours, although there was no complaining from Independence shareholders yesterday, with the share price moving higher.
One of the more interesting tips involved South African gold group Harmony having a go at John Quinn's Perseverance - owner of the newly developed Fosterville goldmine near Bendigo.
The word was that Harmony has decided it needs to bulk up its Australian operating base and that if didn't bid for Perseverance, it would seek to strike a joint-venture deal on Fosterville.
Quinn was looking nice and relaxed in Perseverance's promotional booth. Asked about the rumour, he said it was news to him. He also said that such a move by Harmony might be a bit strange given that another South African miner, Gold Fields, had provided the processing technology used at Fosterville.
On a separate issue, the word is that Gold Fields is close to lifting the lid on a gold discovery in the Bendigo area that could boost the exploration sector.
PSV
perseverance corporation limited
