Sydney, Oct 16, 2007 (ABN Newswire) -
Palmary Enterprises has announced it will waive all remaining conditions of its $4.50 cash offer for Consolidated Minerals. Palmary's offer has been recommended by Consolidated's board in the absence of a superior offer. Palmary's president says CSM shareholders will risk loosing control of their shares if they accept Pallinghurst's rival offer, warning they will also not be able to accept any higher offer that could emerge. Consolidated Minerals returned to profitability in 2007 after posting a loss the previous financial year.
Commercial production is underway at Sino Gold's flagship Jinfeng gold mine in southern China. Company officials say recoveries have exceeded early expectations and that the plant is proving to be a long life, high quality asset that will underpin Sino's future growth and development. Looking ahead, Sino Gold says it will continue to build its exploration portfolio and look for acquisitions. Sino Gold has been operating at a loss since 2004.
And Valad Property Group is continuing to expand its European footprint with the purchase of five properties totaling close to $200 million. Valad's European executive chair says the acquisitions will help drive the growth of its European fund management operation, and says the move helps the company live up to its name by adding value for investors. Valad earnings have been on an upswing since 2003.
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http://abnnewswire.net/lnk/5DJ2ZHS1Source: Finance News Network © 2007
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