Agoracom: Small Cap Investment - Noront Resources - OT - Aurelian investors accept Kinross bid

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Milsy1

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OT - Aurelian investors accept Kinross bid

posted on Sep 04, 2008 07:14AM

Thursday, September 04, 2008

TORONTO — A majority of shareholders of miner Aurelian Resources Inc. have tendered their shares to Kinross Gold Corp.'s $1.2-billion bid.

Kinross said 108.5 million shares were tendered to the bid, giving it a 74.8 per cent stake in Aurelian. That figure will rise to 80.8 per cent when all options are exercised.

Kinross has also extended its offer for the remaining shareholders to Sept. 15.

The all-stock transaction is expected to expand Kinross' development properties, adding a major project in Ecuador — in particular the Fruta del Norte deposit, which contains an estimated 13.7 million ounces of contained gold and 22.4 million ounces of silver.

On the TSX Thursday, Kinross shares traded down 17 cents or one per cent at $15.40. Aurelian stock fell four cents to $5.29.