Ventana takeoverIt's hard to do comparative evaluations, but it is at least encouraging to see that the price paid for ounces is climbing.
TORONTO, Feb 15 (Reuters) - Ventana Gold Corp (VEN.TO: Quote)formalized its acceptance of a takeover offer from Brazilianbillionaire Eike Batista on Tuesday, agreeing to a C$44 million($44.5 million) break fee if the deal falls through.
Batista is offering C$13.06 a share for all the Ventanashares he does not already own. The deal values the Canadianminer at C$1.5 billion.
Ventana is currently focused on developing its La Bodega project, whichit discovered in 2006, and has a total inferred resource of 3.5 milliongold ounces, 19.2 million silver ounces, and 84.6 million pounds ofcopper. The resource is based on 341 holes totalling over 126,000metres of drilling. There is significant potential to expand theresource at the project and, the Company intends to continue explorationon these properties both from surface and underground.
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