A little Brazil news (T.VAA) – In the papersA little Brazil news (T.VAA) – In the papers
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Vaaldiam's Elkedra combination OK's by Australian court
2007-11-02 11:17 ET - News Release
Mr. Ken Johnson reports
VAALDIAM RESOURCES LTD.: COURT APPROVES SCHEME OF ARRANGEMENT
Vaaldiam Resources Ltd.'s scheme of arrangement, under which Elkedra Diamonds NL will combine with Vaaldiam Resources, was approved by the Supreme Court of Western Australia on Nov. 1, 2007.
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I see it was written up in the Morning business file in the Journal: November 3rd
Aussie miner bought by Canadian firm
MELBOURNE (Bloomberg) - Vaaldiam Resources Ltd., a Canadian minerals explorer, offered to buy all the shares of Australian company Elkedra Diamonds NL for A$55.4 million ($47 million US).
Vaaldiam will offer 0.52 of a share for each Elkedra share, Perth-based Elkedra said today in a statement to the Australian Stock Exchange. The offer values Elkedra shares at 53 Australian cents, a 60 per cent premium to Elkedra's current share price, it said.
Shares of Elkedra rose 4.25 pence, or 29 per cent, to 18.75 pence this morning in London, paring this year's loss to 7.4 percent. Elkedra's Australian shares gained 33 per cent at the close in Sydney.
Vaaldiam has also offered to buy all of the shares in Great Western Diamond Corp., Elkedra said in the statement.
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Just a short note - I sincerely believe that Brazil is going to heat up with a flurry of activity that will attract or command attention….
Lets kick it off by announcing the following:
1. One hundred forty-seven heavy mineral samples have already arrived at C.F. Mineral Research and the results are expected shortly… (Diamonds?)
2. Samples from 15 known kimberlite pipes located on the property have been collected and sent to C.F. Minerals for processing. These 100-kilogram to 300-kilogram samples are mostly from unsampled or insufficiently sampled kimberlites and will be analyzed for indicator minerals and diamonds. (Diamonds?)
3. The announcement that two core drill rigs are at the property and HAVE commenced drill testing high-priority kimberlite targets
That is all..... back to the CFL Football Triple header.
Best regards,
Tommer3