Meridian Gold Inc. (fka MDG)

[Hedodd]

NEWS

http://www.newswire.ca/en/releases/archive/May2009/12/c2877.html

[NYBob]

http://www.meridiangold.com/Investors/StockQuotes/default.aspx

http://www.meridiangold.com/

http://www.meridiangold.com/News/PressReleases/2008/YamanaGoldRecommendsRejectionofMini-TenderOfferbyTRCCapitalCorporation/default.aspx

[NYBob]

Meridian Gold Inc. (MDG) $ 35.50
0.00 (0.00%) Volume: 0
4:05 PM EST Dec 31, 2007

[frenchee]

Argentina Mine Tax Threatens Stability, Investment -Industry

DOW JONES NEWSWIRES
December 5, 2007 4:13 p.m.

By Shane Romig

Of DOW JONES NEWSWIRES

BUENOS AIRES (Dow Jones)--By placing a new export tax on mineral exports despite a 30-year guarantee of tax stability, Argentina has shattered confidence in tax stability, which will discourage future mine investment, industry players said Wednesday.

On Tuesday, the mining chamber CAEM said that customs agents demanded the new taxes on Rio Tinto PLC's (RTP) Borax Argentina S.A., Procesadora de Boratos Argentinos S.A., Minera del Altiplano FMC and Xstrata PLC's (XTA.LN) Minera Alumbrera Ltd.

The companies previously had received letters from the Mining Ministry certifying that they would enjoy tax stability for 30 years, but this assurance was cast in doubt by the new tax.

Some companies immediately announced that they would challenge the new tax in court.

Borax Argentina is in the process of asking for an injunction after customs agents demanded a 10% export tax payment for its latest borate shipment.

"We will argue to the court that a note cannot modify a law," mine director Alberto Trunzo told local industry magazine Mining Press.

However, other companies were waiting for more clarity before reacting.

"We have a stability agreement at Veladero...(but) are monitoring and assessing developments," Barrick Gold Corp. (ABX) spokesman Vincent Borg said.

Barrick operates the Veladero gold mine in Argentina and is developing the $2.4 billion Pascua-Lama gold mine project straddling the Chile-Argentina border.

Said the CEO of a company involved in exploration in Argentina and Chile: "This makes Argentina much less attractive for foreign investors. The effect won't be immediate, as companies have budgeted programs...The effects will show up initially with decreased exploration investment.

"This is a real problem for Argentina. There isn't a lot of mining investment in Argentina relative to its mineral potential," the CEO said.

The CEO asked not to be identified because of the sensitivity of the situation.

Lower margins due to the export tax will also push companies to mine higher grade ores, leaving behind more of the lower grade ores.

"Effectively this shortens the mine life, so in the end the government will get less revenue, less employment, etc.," the CEO said.

In 2002, the government implemented broad export taxes to generate revenue in the midst of a deep financial crisis. However, mines such as Barrick's Veladero and Xstrata's Bajo del Alumbrera, which came online prior to 2002, were given guarantees that their taxes would remain unchanged based on a 1993 federal mining law, a spokesman from the mining chamber said.

The way the new taxes were implemented also fueled uncertainty and speculation.

Argentine Mining Minister Jorge Mayoral sent a note to customs agents last week revoking the export tax exemption for the companies, the spokesman said. The companies didn't receive notice of the move, and were surprised by a demand for payment when they sought to register their latest shipments.

"Decisions of this nature threaten legal stability and diminish the constitutional concept of making government acts public," CAEM said in a statement.

The new export taxes vary from 5% to 10%, depending on the level of domestic processing, the spokesman said.

Mines in Argentina currently pay a royalty of 3% of gross output with tax credits for development costs.

The latest move comes amid a wave of export tax increases. Last month, the government imposed sharp export tax increases on grains and petroleum products in an effort to increase government revenue and shield the domestic market from surging international prices.

Argentina mining hopefuls also have faced environmental resistance to development plans and a number of provinces have shut their borders to the industry.

In June, the province of Mendoza banned mining activity using chemicals such as cyanide, mercury and sulfuric acid, effectively shutting down gold and uranium mining.

A group of local mining companies and the Argentine government's national atomic energy commission, or CNEA, brought a lawsuit in Mendoza provincial court challenging the ban.

In addition, Calypso Uranium Corp.(CLP) announced Wednesday that it had filed a case before the Argentine Supreme Court challenging the constitutionality of the chemical ban in Mendoza.

A number of other provinces recently also have enacted laws limiting mining activity. Tucuman, Rio Negro and La Rioja provinces have all passed local laws banning open-pit mining using cyanide.

Meridian Gold Inc.'s (MDG) attempts to mine gold in Chubut province also have been on hold since a local court decision blocked the project in 2003. The Supreme Court upheld the decision earlier this year.

Despite the uncertainty, mining activity is experiencing unprecedented growth in Argentina due to high metals prices, large mineral potential and low extraction costs. Investment in mining projects reached $1.27 billion last year, up 56% from 2005, according to the Mining Ministry.

Investment across the country over the next eight years is expected to reach $12.5 billion as Argentina develops at least 10 new major mine projects, according to the ministry.

[NYBob]

frenchee, I do own some -
Meridian but I have been into Goldcorp and Northgate -
for a longer time -


Imo. Tia.

[frenchee]

Hello Bob,

Looks like Meridian is headed back toward 28-29. If it's oversold then, might be a good time to accumulate. Is Meridian one of your core holdings?

[jimstr]

DOW JONES NEWSWIRES
Meridian Gold Inc.'s (MDG) board is recommending that shareholders reject the amended takeover offer by Yamana Gold Inc. (AUY).
The Reno, Nev. mining company said the higher offer "still falls short." It noted that the 85-Canadian-cent increase in the cash portion of the offer represents only a 2.9% increase in the total consideration.
It said it has opinions from its financial advisers, BMO Capital Markets and Goldman, Sachs & Co., to the effect that the consideration offered under the amended Yamana offer was inadequate, from a financial point of view, to Meridian Gold shareholders.
As reported, Yamana is offering 2.235 shares plus C$4 for each Meridian share.
-John Moritsugu, 416-306-2100; [e-mail] > Dow Jones Newswires
08-20-07 0838ET
Copyright (c) 2007 Dow Jones & Company, Inc.

[jimstr]

7:36 AM ET - Dow Jones News
DOW JONES NEWSWIRES
Yamana Gold Inc. (AUY) boosted the cash portion of its hostile-takeover bid for Meridian Gold Inc. (MDG) by 27%, two weeks after Meridian rejected the prior C$3.35 billion offer.
The company now if offering C$4 ($3.80) and 2.235 Yamana shares per Meridian share. That values each Meridian share at $28.34, a 3.3% premium to Monday's closing price and 26% above Meridian's price when Yamana first proposed a three-way merger with Northern Orion Resources Inc. (NTO) in June.
Toronto-based Yamana said the cash portion of the bid now will be solely funded by a $400 million, five-year credit facility. The company previously relied on money from Vancouver-based Northern Orion, which Yamana has agreed to buy for about $1 billion, to fund the cash portion of the offer.
Yamana Chairman and Chief Executive Peter Marrone said, "We have listened to shareholders and, equally, we have made it clear that we would be prudent and disciplined. This is a full, fair and final price."
Reno, Nev.-based Meridian's board rejected the earlier Yamana bid two weeks ago, with President and Chief Executive Ed Dowling saying the offer was "not even worth considering."
Yamana said it's willing to continue to pursue Meridian even without reviewing the company's books. Yamana "believes the benefits of certainty with proceeding on an unconditional basis outweigh the need for due diligence."
The three-way deal is structured so that the Northern Orion acquisition is contingent on Yamana acquiring a two-thirds stake in Meridian. The deadline for Meridian holders to tender their shares has been extended to Sept. 7.
A Yamana conference call is set for 11 a.m. EDT. Meridian shares rose in premarket trading to $27.63 from Monday's closing price of $27.44. Yamana closed at $10.98, and the stock was inactive in the premarket.
-Kevin Kingsbury; Dow Jones Newswires; 201-938-5963

> Dow Jones Newswires
08-14-07 0735ET
Copyright (c) 2007 Dow Jones & Company, Inc.

[frenchee]

Hello Bob,

I hadn't been watching this one--but I should have as it has excellent swings. Thanks for starting this board...

[NYBob]

Welcome to Meridian Gold Inc. -

Meridian Gold Announces Record Second Quarter 2007 Financial -
Results and Exploration Update -
Tuesday July 24, 5:10 pm ET
(All dollar amounts in U.S. currency)

RENO, Nev.--(BUSINESS WIRE)--Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX:MNG - News; NYSE:MDG - News) is pleased to announce record results for the quarter ended June 30, 2007. Meridian Gold continues its commitment to be The Premier Value Gold Mining Company, with a focus on returns to all stakeholders and a dedication to responsible mining.

HIGHLIGHTS:
-----------

- Record revenues of $84.3 million on sales of 78,500 ounces of
gold and 2.2 million ounces of silver
- Record net earnings of $24.5 million, or $0.24 per share
- Record operating cash flow of $36.5 million
- Consolidated gold production of 80,400 ounces at a negative
net cash cost of $(58) per ounce fueled by record quarterly
silver production of 2.3 million ounces and production of
870 tonnes of zinc
- Extended the strike length of the Al Este vein at El Penon to
2.85 kilometers
- Continued to accelerate the resource conversion at Minera
Florida
- Extended mineralization at the Company's 100% Mercedes
project in Mexico
- Commenced production at the Company's Rossi/Storm project
with Barrick Exploration
- Entered into a fully underwritten US$300,000,000 Revolving
Credit Facility with UniCredit Group
- Commenced work towards a pre-feasibility study at the
Amancaya deposit south of El Penon
- Obtained two key environmental approvals at El Penon
- Continued Minera Florida expansion plans to bring total mill
throughput to 65,000 tonnes per month and annual gold
production to over 100,000 ounces by the end of 2008
- Began metallurgical testing at the Company's 56.7% Jeronimo
joint venture project with CODELCO


http://biz.yahoo.com/bw/070724/20070724006355.html?.v=1

http://investorshub.advfn.com/boards/board.asp?board_id=9897