Lihir Gold rejects $9bn Newcrest Mining bid

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Lihir Gold rejects $9bn Newcrest Mining bid

posted on Apr 01, 2010 05:24AM

Hopefully a sign that the rush for PM resources has started. Another positive is that a rejected bid should lead to an upward revaluation of the PM sector.

"Lihir chairman Ross Garnaut said the board had rejected the offer because it undervalued the company's assets and future growth potential and didn't offer a sufficient premium for control."

http://www.theaustralian.com.au/business/mining-energy/lihir-gold-rejects-9bn-newcrest-mining-bid/story-e6frg9do-1225848355961

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