Randgold CEO: Have Held M&A Talks With Moto Goldmines
February 25 2009 - 2:21PM
Dow Jones News
London-listed gold miner Randgold Resources Ltd. (GOLD) CEO Mark
Bristow Wednesday confirmed he has spoken with Moto Goldmines Ltd.
(MGL.T) about a possible acquisition.
"Moto has quite some potential that would interest us," Bristow
told Dow Jones Newswires.
Randgold is interested in an all-share offer to acquire the
company, Bristow said, though he noted nothing was definite. He did
not specify potential terms.
Bristow said his company, which has two mines in Mali and is
developing projects in Ivory Coast and Senegal, was also looking at
"a couple other things" in central Africa.
"Juniors have pretty much run out of money, and so we are very
committed to seeing if there is any opportunity for us to earn a
majority stake ... and taking projects ahead," he said.
Randgold's priority remains its own projects and development at
discoveries in Ivory Coast and Senegal would not take a back seat
to M&A, he said.
Moto Goldmines, listed in Toronto and on London's AIM, could not
immediately be reached for comment.
Company Web site: http://www.randgoldresources.com
-By Jeffrey Sparshott; Dow Jones Newswires; +44 207 842 9347;
jeffrey.sparshott@dowjones.com