Bema Gold moves to buyout Arizona Star shares
Consolidate Student Loans Bema Gold, in a move to gain control of the Cerro Casale project located in Chile, has offered to buyout Arizona Star.
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Home Equity Loan Rates Dec 22, 2004 (AXcess News/SP) Vancouver BC - Bema Gold Corp. (TSX: BGO, AMEX: BGO), in a move to gain control of the Cerro Casale project located in Chile, has offered to buyout Arizona Star (OTC: AZSRF).Bema said it would offer Arizona Star shareholders 1.85 shares of Bema common stock for each share of Arizona Star, valuing the purchase at CDN$7.01 a share. Bema's goal is gain control of the 24% of the Cerro Casale project that Arizona Star owns. Bema owns 25% and Placer Dome Inc. (NYSE: PDG) is the operator and owns the remaining 51% of the project.
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Homeowner Loans Clive Johnson, president of Bema said, "We regard this as an opportunity to increase Bema's interest in the world class Cerro Casale deposit which we believe is on the verge of moving into the development stage. We are offering the Arizona Star shareholders, through the issuance of Bema shares, continued exposure to Cerro Casale, superior market liquidity and participation in Bema's dramatic growth profile as the Refugio, Kupol and Cerro Casale projects are advanced to production.".
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Equity Loan Rates Unsure of its ability to win over Arizona Star shareholders, Bema listed reasons AZ Star shareholders should consider. AdvertisementBema's list is rather boring to read over and contained no one specific reason that stood out as to why they should sell their shares to Bema Gold Corp, though the company believes its offer is a premium over the current value of Arizona Star shares, which were quoted at US$5.62 on the over-the-counter market and $6.81 on the TSX Venture exchange, which was down 18 cents from the open.
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Student Consolidation Loans Shares of Bema were trading at $2.98, down 7 cents, or 2.3%, at 2:56pm ET Wednesday.
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