Thursday, 16th December 2004 (3256 views)

Unique mining firm King's Bay Gold has announced that it has created a Shareholder's Rights Plan to help give shareholders enough time to properly assess a takeover bid without pressure.

In addition, it is hoped the plan will allow the board of directors to consider alternatives, which could boost share value and ensure equal treatment for all shareholders.

Parts of the plan will come into effect from today, but regulatory approval is still needed.

The group has been keen to highlight the fact that the plan has not been created in response to or in anticipation of an offer or takeover bid.

King's Bay is different from other firms in the mining industry since it owns most of the equipment it needs to carry out various phases of exploration.

Based in Canada the firm has a specific focus on gold properties in Manitoba and Ontario and already has locations in Red Lake and Pickle Lake gold camps.

 

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