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Gold bars are displayed at a gold jewellery shop in Chandigarh May 8, 2012.
Gold bars are displayed at a gold jewellery shop in Chandigarh May 8, 2012.
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Canadian private equity fund launches hostile bid for miner

A third hostile bid was launched in the Canadian mining sector, with Toronto-based Waterton Precious Metals’ unsolicited offer for Arizona-based Chaparral Gold Corp.

Waterton, a private equity fund focused on mining, is offering 50 cents (Canadian) for every Chaparral share, a premium of 13.6 per cent based on the Arizona company’s 44 cent closing price on Friday.