Placer owns 97% of Continental

About 8.3 million shares of Continental Gold (TSE), or about 97% of its outstanding shares, were tendered to a recent bid made by Placer Dome (TSE). Shareholders were offered a choice of $20 cash or one Placer Dome share for each Continental share held. Continental Gold’s key asset is a 70% interest in the Mt. Milligan gold-copper project north of Prince George, B.C. Placer Dome previously acquired a 30% interest in the project held by BP Resources Canada for $78.8 million.