Gold Fields, Silver Standard offer C$1.4 billion for miner Kirkland Lake, Reuters says

Section:

By John Tilak and Nicole Mordant
Reuters
Friday, November 11, 2016

South Africa's Gold Fields Ltd. and Silver Standard Resources Inc. have made three joint, unsolicited bids for Canada's Kirkland Lake Gold and recently sweetened their offer to about C$1.4 billion ($1 billion), three sources familiar with the process said. The latest bid has also been rebuffed, said the sources, who requested anonymity as the issue is confidential. The names of the bidders have not been previously disclosed.

Kirkland Lake has declined to discuss the offers, the sources said. A spokeswoman for Kirkland Lake said she could not immediately comment.

The latest offer for Kirkland Lake represented a premium of more than 50 percent of its value on Thursday. Its shares, which were trading at C$7.42 just ahead of the news, jumped as much as 8 percent to hit C$8.17 before being halted on the Toronto Stock Exchange.

If Gold Fields and Silver Standard succeed in their bid, it would scupper Kirkland Lake's planned acquisition of miner Newmarket Gold for about C$1 billion in stock. ...

... For the remainder of the report:

http://www.reuters.com/article/us-kirkland-lake-m-a-idUSKBN1361PF



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K92 Mining Begins Gold Production at Kainantu Mine

Company Announcement
Wednesday, October 5, 2016

K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.

Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."

...For the remainder of the announcement:

http://www.k92mining.com/2016/10/6077/



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