Conquest Resources Ltd

Published : September 13th, 2011

Releases Scheme Book

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Australia | Blackrock | Gold | Gold Producer | Growth |


13 September 2011

Conquest Mining Releases Scheme Booklet 


  • Federal Court approves dispatch of Scheme Booklet to Conquest shareholders.

  • Independent expert Grant Samuel concludes the Transaction is in the best interests of Conquest shareholders in the  absence of a superior proposal.

  • Grant Samuel finds that the estimated underlying value attributable to Conquest shares will increase as a result of the Transaction to $0.64 � $0.71 per share based on a gold price of $1425 � $1475 per ounce.

  • Scheme unanimously recommended by the Conquest board.

  • Conquest shareholder vote on Scheme scheduled for October 14, 2011.

Conquest Mining Limited (ASX: CQT) (�Conquest�) is pleased to advise that the Scheme Booklet for the proposed merger of equals with Catalpa Resources Limited (ASX: CAH) (�Catalpa�) (the �Scheme�) has been approved by the Federal Court of Australia and will shortly be mailed to all Conquest shareholders. A copy of the Scheme Booklet has also been lodged with the Australian Securities Exchange.

On June 15, 2011 Conquest announced the Scheme and the concurrent and interdependent acquisition by Catalpa of Newcrest Mining Limited?s interests in the Cracow and Mt Rawdon gold mining and exploration projects (the �Asset Acquisition�) to create a leading growth-focussed Australian gold company. It is intended that, following the Scheme and Asset Acquisition, the merged Conquest/Catalpa (�Merged Entity�) will undertake a pro-rata, renounceable entitlement offer to raise approximately $150 million (�Rights Offer�).

At the request of Catalpa and Conquest, Newcrest has agreed not to take up its entitlement under the Rights Offer (approximately $57 million) to allow the Merged Entity to broaden its investor base. As previously announced, two leading global investors in gold equities, Blackrock Investment Management (UK) (�Blackrock?) and Baker Steel Managed Funds (�Baker Steel?) have committed to subscribe for a total of $50 million of new shares, representing the vast majority of Newcrest?s entitlement under the Rights Offer.

Grant Samuel & Associates Pty Limited (�Grant Samuel�) was appointed by Conquest to provide its opinion on the Scheme and Asset Acquisition (together the �Transaction�). Grant Samuel has concluded that the Transaction is reasonable and in the best interests of Conquest shareholders in the absence of a superior proposal.

ASIC policy requires that the Transaction be assessed as if it were a takeover by Newcrest of the merged Conquest/Catalpa due to Newcrest taking an approximate 33% shareholding (following successful completion of the Rights Offer) in the Merged Entity through the Transaction. On this basis, Grant Samuel was not able to conclude that the Transaction is �fair� because the trading price of shares in the Merged Entity is unlikely to match the underlying value of shares in Conquest (at least in the short term). Grant Samuel has, however, concluded that there will be an uplift in the underlying value attributable to Conquest shares as a result of the Transaction from $0.60 � $0.68 to $0.64 � $0.71 per share, based on a number of factors including a gold price of $1425 � $1475 per ounce. Grant Samuel believes that Conquest shareholders will be better off if the Transaction is implemented than if it is not. Accordingly, while not �fair�, Grant Samuel believes the Transaction is reasonable and in Conquest shareholders? best interests, in the absence of a superior proposal.  The reasons for Grant Samuel?s conclusions, and the basis of its valuation, are set out in a concise version of its report included in the Scheme Booklet. A full length version of Grant Samuel?s report is included in the Scheme Booklet Supplement also released by Conquest today.

Commenting on the release of the Scheme Booklet, Conquest Executive Chairman Jake Klein said:
�We are pleased that Grant Samuel has concluded that the Transaction to be in the best interests of Conquest shareholders. This opinion adds further weight to an already long list of supporters including the boards of Conquest, Catalpa and Newcrest and leading institutional gold investors Blackrock and Baker Steel. We now look forward to putting the Scheme in front of Conquest shareholders and realising our vision of creating a leading mid-cap Australian gold producer with meaningful scale and operational diversification.�

Conquest shareholders will have the opportunity to vote on the Scheme at a meeting to be held on October 14, 2011. A general meeting, at which matters related to the Transaction will be voted on, will immediately follow the Scheme meeting. Full details of the Transaction and voting instructions are outlined in the Scheme Booklet.

Conquest shareholders who require more information on the Transaction should visit the Conquest website ( ) or call the Conquest transaction information line on 1300 047 569 (inside Australia) or +61 3 9415 4242 (outside Australia).

For more information:

Jake Klein
Executive Chairman
Conquest Mining Limited
(02) 8383 2100

Trudi Newman
Investor Relations Manager
Conquest Mining Limited
(02) 8383 2100

Michael Vaughan
FTI � Media Relations
0422 602 720
(02) 8298 6100

This email has been sent to you because you have subscribed to Conquest Mining's email alerts. If you no longer wish to receive email alerts from us, follow the link to unsubscribe:
Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Conquest Resources Ltd

ISIN : CA2082871021
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Conquest Res. is a gold producing company based in .

Conquest Res. holds various exploration projects in Canada.

Its main assets in production are BABS&BEEHIVE and PIPER MOSS in Zimbabwe, its main asset in development is DETOUR LAKE (SUNDAY LAKE) in Canada and its main exploration properties are SUGUTI in Tanzania and ALEXANDER, KING BAY, AURORA PROJECT and SMITH LAKE in Canada.

Conquest Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.9 millions as of today (US$ 2.3 millions, € 2.0 millions).

Its stock quote reached its highest recent level on November 21, 2003 at CA$ 0.40, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Conquest Res. has 95 477 728 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Financings of Conquest Resources Ltd
12/4/2009private placement financing of up to $4.0 million
Nominations of Conquest Resources Ltd
9/11/2012Announces Appointment of President
Project news of Conquest Resources Ltd
11/24/2009(Alexander)intersects gold in first four holes on Alexander gold proper...
8/19/2009(Alexander)Chooses contractor for Alexander drill project at Red Lake
8/5/2009(Alexander)Plans two-phase drill program at Alexander
5/26/2009(Alexander)Goldcorp drills 4.97 g/t gold over 1.82 metres on Alexander ...
Corporate news of Conquest Resources Ltd
1/19/2015Conquest Sells 50% JV Interest in Sunday Lake Property to De...
5/22/2014Conquest Reports March 31, 2014 First Quarter Results
2/11/2013Detour Gold Commences Winter Work Program at Conquest's Sund...
9/13/2011Releases Scheme Book
6/2/2011Annual Meeting of Shareholders
4/14/2011Commences Drilling from Goldcorp Red Lake Mine Property
3/7/2011Detour Gold Commences Drilling Program at Conquest's Sunday ...
2/15/2011Research Report
8/11/2010amends agreement with Detour Gold Corporation on Conquest's ...
7/18/2009( CQR : TSXV ) updates shareholders through Investment Pitch...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.030
09/20 10:30 -
Prev close Open
0.030 0.030
Low High
0.030 0.030
Year l/h YTD var.
0.025 -  0.080 -60.00%
52 week l/h 52 week var.
0.025 -  0.200 -57.14%
Volume 1 month var.
130,000 -%
24hGold TrendPower© : 15
Produces Gold
Develops Gold
Explores for Gold
Interactive chart Add to compare
Print Compare Export
Last updated on : 4/28/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.75-1.02%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 3.28-6.82%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.60+0.67%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.11+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.13-11.98%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.44-8.39%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26-7.14%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.32-5.88%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.95-10.14%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 57.69-8.60%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :