North of 60 Mining News - The mining newspaper for Alaska and Canada's North

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By Rose Ragsdale
For Mining News 

Gold producer offers premium for junior

Kinross Gold mails friendly takeover bid to shareholders of Underworld Resources, owner of the prospective White Gold Project


Last updated 3/28/2010 at Noon

Kinross Gold Corp. is making good on its promise to return to Canada.

The gold producer entered into a definitive agreement with Underworld Resources Inc. March 16 to acquire 100 percent of the junior's outstanding common shares not already owned by Kinross for stock and cash valued at C$139.2 million.

Kinross already owns 8.5 percent of Underworld's shares (on a fully-diluted basis). Underwo...

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