Battle for big Canadian gold mine flares up anew


By Gabriel Friedman
National Post, Toronto
Friday, October 12, 2018

Fresh blows landed Friday in the battle for control of Detour Gold Inc. -- which operates one of the largest gold mines in Canada -- with the company's current board and hedge fund Paulson & Co. each accusing the other of rejecting settlement offers.

The first salvo came from Detour, which issued a press release with details of a settlement offer that it said Paulson & Co., the New York hedge fund run by U.S. billionaire John Paulson, rejected.

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By midday Paulson & Co.'s partner Marcelo Kim offered a different version of events: His firm had countered the settlement offer with its own offer on Friday morning, and Detour's chairman Alex Morrison had said he would present it to the board for consideration over the weekend.

Instead, Kim said, Detour released a press release on Friday morning accusing him of rejecting all settlement negotiations. ...

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