The South Africa-based head of Gold Fields says the company has always had its eye on the 50 per cent stake in the Gruyere goldmine it will acquire in its move for Gold Road Resources.
Stocks in Western Australian gold producers are rallying as the price for the precious metal holds strong above $US3,000 per ounce amid a flurry of M&A activity.
Aggressive and hostile is how the chief executive of Gold Road Resources has described the $3.3 billion bid lobbed by its Gruyere joint venture partner Gold Fields.
Gold Fields boss Mike Fraser is disappointed the board of Gold Road Resources has poured cold water over his $3.3 billion offer for the Gruyere mine joint venture partner.
Pilbara gold developer De Grey has refused to comment around speculation that it could be the target of rival interest, saying it is focused on developing its Hemi project.
