Replies to post #3478 on Northgate Minerals Corp (NXG)

[susayre]

OT: ezxccsc - yes.

Closed Friday at $1.60. Not traded today - news item: http://www.hkex.com.hk/listedco/listconews/sehk/20070205/LTN20070205086.HTM

EASYKNIT ENT<00616> - Suspension of Trading

At the request of Easyknit Enterprises Holdings Limited, trading in its shares has been suspended with effect from 9:30 a.m. today (5/2/2007) pending issue of an announcement regarding price sensitive information relating to a possible very substantial acquisition and dilution of control.

[susayre]

OT ezxccsc 0616 announcement 2/6/07 and EZ...

Issued by Easyknit Enterprises Holdings Limited (616), full text at: http://www.hkex.com.hk/listedco/listconews/sehk/20070206/LTN20070206130.pdf


Non-Binding Heads of Agreement in Respect of Possible Merger and Resumption of Trading

The Board announces that the Company entered into a non-binding Heads of Agreement with Wits Basin in respect of the Possible Merger on 2 February 2007. Under the terms of the Heads of Agreement, it is intended that the Possible Merger may involve an issue of approximately 3 billion shares, representing approximately 76% of the existing issued share capital and approximately 43% of the issued share capital of the Company as enlarged by such issue, by the Company to the shareholders of Wits Basin in consideration of the transfer of all their shares in Wits Basin to a wholly-owned subsidiary to be incorporated by the Company. If this happens, Easyknit International may cease to be a controlling shareholder of the Company.

Trading in the shares of the Company was suspended from 9:30 am on Monday, 5 February 2007 pending the release of this announcement. Application has been made for the resumption of trading in the shares of the Company on the Stock Exchange at 9:30 am on Wednesday, 7 February, 2007.

(edited) notes that Wits Basin has approximately 3,000 shareholders, none of whom owns over 11% of the outstanding shares.

If definitive documents are not entered into by the parties by 331 March 2007, either party may give each other 30 days' advance notice to terminate the Heads of Agreement.


Issued by Easyknit International (0218) http://www.hkex.com.hk/listedco/listconews/sehk/20070206/LTN20070206129.pdf

The Board is aware that Easyknit Enterprises, an associate of the Company, has entered into a non-binding Heads of Agreement with Wits Basin in respect of the Possible Merger on 2 February 2007. Under the terms of the Heads of Agreement, it is intended that the Possible Merger may lead to a dilution of the Company's shareholding in Easyknit Enterprises from approximately 35.93% to approximately 20% and the Company may cease to be a controlling shareholder of Easyknit Enterprises.

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EZ - it's to be 60 here mid-afternoon today, :-)