Deadline for Boseto Mine takeover extended
Wednesday, May 01, 2013
In a second target statement released last week, Discovery Metals indicated that an ore reserve model had over-estimated the amount of sulphide ore and underestimated the amount of oxide and transitional ore in the Zeta open pit ore body, for the material mined to the end of December last year.
Discovery also said its cash cost for the six months ended December 31 was $4.28 a pound (0.45 kilograms), compared with the $1.28 a pound average estimated in its feasibility study, because of lower ore grades and higher energy costs.
With the new ore reserve and cash costs information, Cathay announced on Wednesday that it is evaluating the new information and its bid offer will now be extended by seven days to February 15.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...