MSC sells 45m shares of BCD Resources to Bendigo Mining

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MSC sells 45m shares of BCD Resources to Bendigo Mining

Business & Market 2010

Written by Joseph Chin

Thursday, 22 July 2010 11:54

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KUALA LUMPUR: Malaysia Smelting Corporation Bhd is selling 45 million shares of Australia-listed BCD Resources NL at 11.5 Australian cents per share to Bendigo Mining Ltd.

MSC said on Thursday, July 22 it currently owns 90 million shares or 21.3% of BCD Resources' share capital.

MSC added it also has an option with Bendigo to sell another 39 million BCD Resources shares at 14.4 cents per BCD Resources share, which is 25% above the 30-day volume weighted average price.

BCD Resources is an Australian gold producer which owns and operates the Tasmania Mine in Northern Tasmania.

MSC's entry into gold was in 2008 with its acquisition of 18.9% interest in Beaconsfield Gold NL (thereafter renamed BCD Resources.

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Last Updated on Thursday, 22 July 2010 11:56

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