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Kazakhmys launches offer to buy Eurasia Gold for around 288 mln cad

LONDON. May 14. KAZINFORM. - Kazakhmys PLC said it has launched an offer to buy Canadian gold producer Eurasia Gold Inc for 0.85 cad per share, valuing the company at around 288 mln cad. Eurasia chairman Kumar Mukashev, who along with TKA corp and other shareholders controlled by Mukashev hold around 79 pct of Eurasia shares, have entered into a lock-in agreement to tender their shares to Kazakhmys' offer, the company said. Eurasia has estimated resources of around 1.9 mln ounces of gold and gold equivalent, about half of which is in Kazakhstan with the rest in Kyrgyzstan. Kazakhmys said it will formally commence the offer on or about May 15 and it will be financed from the company's existing cash balances, KJazinform cites Thomson Financial. kathy.sandler@thomson.com ks


Resourse: KAZINFORM







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