-Placer among bidders for WMC gold assets

摘要

Canadian-based gold producer Placer Dome Inc. announced to the Diggers and Dealers Forum that it is bidding for some of the gold assets recently offered for sale by the diversified Australian mining company WMC Ltd (MJ, April 13, p.277). Speaking to Mining Journal after the company's formal presentation, Mike Johnston, Placer's exploration manager - generative Asia Pacific, revealed that Placer has put in bids for only two of the three assets offered by WMC: the Agnew and St Ives operations, both located in Western Australia (WA).Explaining the rationale behind the bid, Mr Johnston said "We're serious about Australia, Western Australia in particular, and the whole Asia Pacific region. The assets would fit in well with our existing portfolio and we think we could manage those assets very well". He went on to say "It really comes down to a question of price - if there's a willing seller and a willing buyer then the deal will be done, and we like the assets". Mr Johnston explained that the decision to proceed was made following visits to the various mines in June, as was the decision not to bid for WMC's third gold asset, the Central Norseman mine in WA, as Placer considers it to be too small for its portfolio. (Central Norseman's sale is also complicated by the fact that it is a listed subsidiary of WMC - MJ, July 13, p.33). Mr Johnston declined to give a figure for Placer's bid, but he did say that with its 'clean' balance sheet, the company has several options for financing a successful bid.