Superior sues Vango as Dampier dispute drags

THE latest twist in the increasingly bitter and complex takeover battle by Vango Mining for Dampier Gold is the entry of Canadian gold miner Superior Gold, which has started legal action against Vango.

Superior sues Vango as Dampier dispute drags Superior sues Vango as Dampier dispute drags Superior sues Vango as Dampier dispute drags Superior sues Vango as Dampier dispute drags Superior sues Vango as Dampier dispute drags

Relationships around Plutonic are anything but platonic.

At the heart of the contest is the control over promising areas around the Plutonic gold mine in Western Australia's north, and the destination for any gold mined.
 
In October Vango launched a hostile A$7 million offer for Dampier based on two Vango shares for every seven Dampier shares arguing it was making an offer valued at 5.6c per share, then "well in excess of a ‘normal' control premium". 
 
Dampier says its shares are worth up to 8c and the offer is neither fair and reasonable, and that Vango is making a lowball bid to avoid a $6 million payment that will become owed to once production begins at the pair's K2 deposit.
 
It also says that Vango wants to extricate itself from a l...

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