Continental backs Placer Dome bid

Shareholders of Continental Gold (TSE) can expect to receive a directors’ circular in response to the recent takeover bid announced by Placer Dome (TSE). The circular contains an unqualified recommendation that shareholders of Continental Gold accept the Placer Dome offer. Shareholders can elect to choose either $20 cash or a Placer Dome share for each share of Continental Gold held.

Continental Gold’s key asset is a 70% interest in the Mt. Milligan gold-copper project north of Prince George, B.C. Placer has already acquired the remaining 30% interest in the advanced project from Continental Gold’s former joint venture partner.