http://www.reuters.com/article/2012/11/12/us-queenston-offer-idUSBRE8AB0JD20121112?feedType=RSS&feedName=globalMarketsNews&rpc=43

RIVAL BID

Analysts said there is a possibility of rival bids due to Queenston's large prospective land position in a politically stable, mining-friendly jurisdiction.

"We place the probability of a separate takeover offer at 25 percent," analyst Adam Melnyk of Desjardins Capital Markets said in a note to clients.

Stifel Nicolaus analyst Craig Stanley said though a competing bid was unlikely, companies that could be interested include Gold Fields Ltd (GFIJ.J), Agnico-Eagle Mines Ltd (AEM.TO) (AEM.N) and AuRico Gold (AUQ.TO).

Agnico-Eagle owns 9.21 percent of Queenston's shares, according to Thomson Reuters data.

Holders of about 30 percent of Queenston shares have agreed to vote in favor of the deal, but the companies did not disclose if Agnico had agreed to lock up its shares.

AuRico last year acquired Northgate Minerals, which owned the Young-Davidson project in Matachewan, 60 km (38 miles) west of Kirkland Lake.

Grandich has right, it seems that take over season has just begin. NGD will probably also go after some junior, possibility that ABX will go for some junior also, other Majors are also not excluded. I hope that this will bring lot of speculative money in Junior Gold Mining sector so we could finally come to fair prices which are much much higher. Let the mania begin!!! Also if OSK could not take over QMI there is possibility to go after PEM, I will prefer that take over comes later after hopefully PEM is somewhere round 40 cents or higher. I also want to see $1,5 but let see first 30 Cents then 50 Cents then higher prices...

GLTA