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Gold/Mining/Energy : Newstrike Capital

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From: LoneClone	6/26/2013 1:28:50 PM
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Newstrike Capital is Exploring a Sale of the Company blogs.wsj.com By Dana MattioliGold exploration company Newstrike Capital Inc. NES.V +1.52% is seeking to sell itself, according to a person familiar with the matter. The Vancouver-based gold and silver explorer has set up a data room and has about a dozen companies looking into the company’s books, this person says. One of the interested parties is a Chinese state-owned enterprise, the person added. The company’s stock price has suffered in tandem with gold prices. Newstrike has a C$75 million ($71.7 million) market capitalization and the stock is trading at C$0.65. In November 2012, the company’s stock reached C$2.63. The company, which does all of its exploration in Mexico, could be of interest to gold producers, this person says. Newstrike has exploration properties in the Guerrero Gold Belt and other parts of the country. Swedish mining magnate Lukas Lundin and his family have more than a 40% stake in Newstrike.

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