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Name | Symbol | Market | Type |
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GOLD | CCOM:GOLD | Currency.com | Future |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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2.16 | 0.09% | 2,470.69 | 2,470.54 | 2,470.84 | 2,482.43 | 2,461.92 | 2,468.01 | 0 | 12:39:48 |
MEDIA RELEASE Gold Fields Takes Out Arctic Platinum Johannesburg, 8 August 2003: Gold Fields Limited (JSE & NYSE - GFI) today announced that it would exercise its pre-emptive right to acquire Outokumpu's 49% stake in the Arctic Platinum Project in Finland, in which Gold Fields already holds the majority share of 51%. The Arctic Platinum partnership agreement between Gold Fields and Outokumpu contains the right of pre-emption in favour of both parties in respect of any intended disposals by either party of their interest in the Arctic Platinum project. In terms of this arrangement Gold Fields will pay US$31 million, made up of cash of US$23 million and Gold Fields shares worth US$8 million. John Munro, Senior Vice President for International Operations, Gold Fields said: "By exercising this pre-emptive right Gold Fields has secured for its shareholders full control over one of the most significant PGM fields outside of South Africa. There are a number of development options for this project that are under review at the moment." The Arctic Platinum Project is an advanced stage PGM exploration project in Northern Finland. To date approximately 14 million ounces of PGM resources have been delineated on the site. end Enquiries South Africa Andrew Davidson +2711 644-2638 Nerina Bodasing +2711 644-2630 North America Cheryl Martin +303 796-8683 END
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