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QGX, owner of Baruun Naran and Golden Hills, to be sold for $259 million PDF Print E-mail
Wednesday, 23 July 2008

Mining operator QGX Ltd. (TSX:QGX) is to be purchased by Kerry Holdings Ltd. and MCS Holding LLC. The reported sales price is $259 million. 

QGX's properties include the Baruun Naran and the Golden Hills sites in Mongolia. Barrick Gold Corp. (TSX:ABX) holds a nine per cent stake in the company, which is based in Canada. 

Kerry is a private investment holding company with diversified businesses throughout the Asia Pacific Region. MCS is one of the largest private sector companies in Mongolia, with over 3,200 employees. 

Shares in QGX, which had been halted prior to news of its sale, rose 38 cents, or more than eight per cent, on the TSX to $4.88, with 2.5 million shares changing hands.

  Comments (1)
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 1 Written by old friend, on 2008-07-23 07:22:33, IP: 202.123.89.245
Sounds like too low a price to me. Wonder if someone else won't jump in.

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