11th Sep 2007 12:17
Kazakhmys PLC11 September 2007 Kazakhmys PLC Completes Acquisition of Eurasia Kazakhmys PLC ("Kazakhmys") (LSE:KAZ) announces that Kazakhmys Gold Inc., anindirect wholly-owned subsidiary of Kazakhmys, has acquired the ordinary shares(the "Eurasia Shares") of Eurasia Gold Inc. ("Eurasia") not already owned by itby exercising its right under the compulsory acquisition provisions of theBusiness Corporations Act (British Columbia). The compulsory acquisition followsan offer dated 15 May 2007, as subsequently varied and extended, for all of theEurasia Shares at a price of $0.85 in cash per Eurasia Share, which had beenaccepted by shareholders representing 96.34% of the outstanding Eurasia Shares. As a result of the successful compulsory acquisition, Eurasia is now 100%indirectly owned by Kazakhmys. Accordingly, the Eurasia Shares have beendelisted from the Toronto Stock Exchange and Eurasia will make applications tocease to be a reporting issuer under Canadian securities laws. It is expected that the consideration for the Eurasia Shares certificatesdeposited to date will be mailed to depositing shareholders this week. For further information please contact: John Smelt, Head of Corporate Communications Tel:+44 20 7901 7882Sergei Stephantsov, Deputy Head of Investor Relations Tel:+44 20 7901 7800Kazakhmys PLC Robin WalkerFinsbury Tel:+44 20 7251 3801 - ends - Notes to Editors About Kazakhmys Kazakhmys is a London-listed natural resources company with primary operationsin Kazakhstan and Germany. Kazakhmys' operations are vertically integrated andits principal business is the mining, processing, smelting, refining and sale ofcopper and copper products as well as various by-products such as zinc, gold andsilver. Kazakhmys operates 19 open pit and underground mines and two smeltingand refining complexes in Kazakhstan and a copper products fabrication companyin Germany. Kazakhmys is listed on the London Stock Exchange under the symbol KAZ. Forfurther information, visit the website at www.kazakhmys.com. About Eurasia Gold Inc. Eurasia has estimated resources of approximately 1.9 Moz of gold and goldequivalent (Measured & Indicated by JORC and C1 Former Soviet Union standard).Approximately half of these resources are located in Kazakhstan, with theremaining resources located in Kyrgyzstan. In addition, there is a high-gradesilver deposit in Tajikistan. Eurasia offers a well-balanced portfolio of commercial mining, new developmentand exploration opportunities, as well as a proven track record of bringingdevelopment assets into production. Eurasia will put new development assets intoconstruction in 2007/2008, with first production expected in 2009/2010.According to its public disclosure record, Eurasia sold 44,989 oz of gold in2006. Kazakhmys Gold Inc. is a company incorporated under the laws of BritishColumbia, Canada. Its registered and records office is located at Suite 2600,Three Bentall Centre, P.O. Box 49314, 595 Burrard Street, Vancouver, BritishColumbia, V7X 1L3, Canada. Forward looking information This press release contains certain forward-looking information and statementswithin the meaning of applicable securities laws relating, but not limited, tooperations, anticipated or prospective financial performance, results ofoperations, business prospects and strategies of Kazakhmys. Forward-lookinginformation typically contains statements with words such as "consider","anticipate", "believe", "expect", "plan", "intend", "likely" or similar wordssuggesting future outcomes or statements regarding an outlook on future changesin volumes, freight rates, costs, achievable cost savings, the estimated amountsand timing of capital expenditures, anticipated future debt levels and incentivefees or revenue, or other expectations, beliefs, plans, objectives, assumptions,intentions or statements about future events or performance. These statements are subject to known and unknown risks, uncertainties and otherfactors that could cause actual results to differ materially from thosesuggested by the forward-looking statements. Although Kazakhmys believes it hasa reasonable basis for making the forecasts or projections included herein, youare cautioned not to place undue reliance on such forward-looking information.By its nature, the forward-looking information involves numerous assumptions,inherent risks and uncertainties, both general and specific that contributes tothe possibility that the predictions, forecasts and other forward-lookingstatements will not occur. Kazakhmys undertakes no obligation, except asrequired by law, to update publicly or otherwise revise any forward-lookinginformation, whether as a result of new information, future events or otherwise,or the above list of factors affecting this information. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
KAZ.L