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To: Bucky Katt who wrote (421)5/3/2010 7:44:15 PM
From: Bucky Katt  Respond to of 48461
 
This was an old ratdog from long ago>

Lihir Gold Ltd. agreed to an increased A$9.5 billion ($8.8 billion) takeover offer from Australia’s Newcrest Mining Ltd. to create the world’s fifth-biggest producer of the metal.

The bid values Port Moresby, Papua New Guinea-based Lihir’s shares at A$4.03 each, 6.4 percent more than Newcrest’s offer last month, the companies said today in a joint statement.

Buying Lihir will give Newcrest Chief Executive Officer Ian Smith 10 mines in five nations. Gold has chalked up its sixth quarterly gain to mark its longest rally since 1979.

“The portfolio of high quality operating mines and exciting growth opportunities will deliver long term, sustainable production growth,” Smith said in the statement.