Karora Resources: Summary of Merger with Westgold Resources

Westgold has reached an agreement with Karora Resources that Westgold will acquire 100% of the outstanding shares in Karora. The enlarged Westgold will have a market capitalization of approximately C$1.9 billion and all deposits and mines will be located in Australia. The savings are estimated at a good CAD 250 million. We take a positive view of the new company and are sticking with it.

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