CGA Mining poised for Canadian takeover

Company News

Dual listed CGA Mining Limited (ASX:CGX) has reportedly received a takeover offer from Canadian gold producer, B2Gold.

Media reports suggest, the bid values CGA at about $1 billion and would follow a consolidation in the gold sector after Silver Lake Resources Limited (ASX:SLR) acquired Integra Mining.

CGA owns a gold mine on the island of Masbate south of Manila.

CGA generated a net profit of $5.9 million in fiscal 2012.