Kagara to shed the Lizard 

Kagara to shed the Lizard

Mar 01, 2012 (Menafn - The Australian Financial Review - ABIX via COMTEX) --Kagara Mining is thought to have made a deal with Western Areas for the purchase of its Lounge Lizard nickel deposit in Western Australia. A formal sales process failed to produce a buyer for the asset. Western Areas has been mining the deposit for Kagara and had a pre-emptive right over the asset. The price is thought to be between A60 million and A80 million. Kagara's failure to lodge its interim results by the deadline of 29 February 2012 has raised questions about its financial situation.

Publication Date: 2 March 2012

KAGARA LIMITED - ASX KZL
WESTERN AREAS NL - ASX WSA
GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD
NEWCREST MINING LIMITED - ASX NCM

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