11 September 2007
Kazakhmys PLC Completes Acquisition of Eurasia
Kazakhmys PLC ("Kazakhmys") (LSE:KAZ) announces that Kazakhmys Gold Inc., an
indirect wholly-owned subsidiary of Kazakhmys, has acquired the ordinary shares
(the "Eurasia Shares") of Eurasia Gold Inc. ("Eurasia") not already owned by it
by exercising its right under the compulsory acquisition provisions of the
Business Corporations Act (British Columbia). The compulsory acquisition follows
an offer dated 15 May 2007, as subsequently varied and extended, for all of the
Eurasia Shares at a price of $0.85 in cash per Eurasia Share, which had been
accepted by shareholders representing 96.34% of the outstanding Eurasia Shares.
As a result of the successful compulsory acquisition, Eurasia is now 100%
indirectly owned by Kazakhmys. Accordingly, the Eurasia Shares have been
delisted from the Toronto Stock Exchange and Eurasia will make applications to
cease to be a reporting issuer under Canadian securities laws.
It is expected that the consideration for the Eurasia Shares certificates
deposited to date will be mailed to depositing shareholders this week.
For further information please contact:
John Smelt, Head of Corporate Communications Tel:+44 20 7901 7882
Sergei Stephantsov, Deputy Head of Investor Relations Tel:+44 20 7901 7800
Finsbury Tel:+44 20 7251 3801
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Notes to Editors
Kazakhmys is a London-listed natural resources company with primary operations
in Kazakhstan and Germany. Kazakhmys' operations are vertically integrated and
its principal business is the mining, processing, smelting, refining and sale of
copper and copper products as well as various by-products such as zinc, gold and
silver. Kazakhmys operates 19 open pit and underground mines and two smelting
and refining complexes in Kazakhstan and a copper products fabrication company
Kazakhmys is listed on the London Stock Exchange under the symbol KAZ. For
further information, visit the website at www.kazakhmys.com.
About Eurasia Gold Inc.
Eurasia has estimated resources of approximately 1.9 Moz of gold and gold
equivalent (Measured & Indicated by JORC and C1 Former Soviet Union standard).
Approximately half of these resources are located in Kazakhstan, with the
remaining resources located in Kyrgyzstan. In addition, there is a high-grade
silver deposit in Tajikistan.
Eurasia offers a well-balanced portfolio of commercial mining, new development
and exploration opportunities, as well as a proven track record of bringing
development assets into production. Eurasia will put new development assets into
construction in 2007/2008, with first production expected in 2009/2010.
According to its public disclosure record, Eurasia sold 44,989 oz of gold in
Kazakhmys Gold Inc. is a company incorporated under the laws of British
Columbia, Canada. Its registered and records office is located at Suite 2600,
Three Bentall Centre, P.O. Box 49314, 595 Burrard Street, Vancouver, British
Columbia, V7X 1L3, Canada.
Forward looking information
This press release contains certain forward-looking information and statements
within the meaning of applicable securities laws relating, but not limited, to
operations, anticipated or prospective financial performance, results of
operations, business prospects and strategies of Kazakhmys. Forward-looking
information typically contains statements with words such as "consider",
"anticipate", "believe", "expect", "plan", "intend", "likely" or similar words
suggesting future outcomes or statements regarding an outlook on future changes
in volumes, freight rates, costs, achievable cost savings, the estimated amounts
and timing of capital expenditures, anticipated future debt levels and incentive
fees or revenue, or other expectations, beliefs, plans, objectives, assumptions,
intentions or statements about future events or performance.
These statements are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. Although Kazakhmys believes it has
a reasonable basis for making the forecasts or projections included herein, you
are cautioned not to place undue reliance on such forward-looking information.
By its nature, the forward-looking information involves numerous assumptions,
inherent risks and uncertainties, both general and specific that contributes to
the possibility that the predictions, forecasts and other forward-looking
statements will not occur. Kazakhmys undertakes no obligation, except as
required by law, to update publicly or otherwise revise any forward-looking
information, whether as a result of new information, future events or otherwise,
or the above list of factors affecting this information.
This information is provided by RNS
The company news service from the London Stock Exchange