In response to the recent takeover bid by
Birim management says it has received a proposal from an unnamed major gold producer interested in advancing Birim’s Mampon and Aboronye gold prospects to the production stage.
The junior says the latest proposal includes a substantial cash injection, part of which would be in the form of a capital investment, and that additional funds would flow to Birim through royalty payments. Birim says the new deal would allow it to continue as an independent company and provide its shareholders with significant upside on any future discoveries on its Ghanaian concessions.
Under Golden Star’s proposal, Birim shareholders would receive half of a Golden Star share for each Birim share owned (T.N.M., Sept. 6-12/99).
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