Wednesday, 19th September 2007 (1997 views)

Gold exploration company Emperor Mines has announced plans to merge with Canadian minerals developer Intrepid Mines.

Shareholders of the Australian-listed Emperor are to receive one Intrepid share for every 4.25 Emperor shares they hold under the deal.

The new company is to be based in Australia and entitled Intrepid Mines and its principal assets are to be Western Australia's Paulsen gold mine and the Casposo gold and silver development in Argentina, as well as advanced exploration projects in Mexico and Indonesia.

According to the companies: "The merger is expected to deliver an expanded production profile and near term increased gold inventory potential, leveraging exposure to the gold price."

The merger is subject to majority stakeholder DRDGOLD successfully realising its investment in Emperor and shareholder approval.

Emperor Mines has stated that it is committed to managing the impact of its activities on the environment and host communities.

 

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