Dundee Resources Limited

May 02, 2007 13:21 ET

Dundee Resources Limited Acquires Interest in Consolidated Thompson Iron Mines Limited

TORONTO, ONTARIO--(CCNMatthews - May 2, 2007) - In accordance with regulatory requirements, Dundee Resources Limited ("Dundee Resources") announced today that it has acquired 2,050,000 common shares of Consolidated Thompson Iron Mines Limited ("Consolidated Thompson"), at a price of $3.15 per share. Following this transaction, the 2,050,000 common shares owned by Dundee Resources represent an approximate 6.08% interest in Consolidated Thompson. In addition, Goodman & Company, Investment Counsel Ltd. ("Goodman"), an affiliate of Dundee Resources, has control and direction over an aggregate of 4,045,600 common shares of Consolidated Thompson representing an approximate 12.00% interest in Consolidated Thompson. In aggregate, Dundee Resources and Goodman own or have control and direction over an aggregate of 6,095,600 common shares representing an approximate 18.08% interest in Consolidated Thompson.

The position in Consolidated Thompson was acquired by Dundee Resources for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

Dundee Resources Limited is a wholly owned subsidiary of Dundee Corporation (TSX:DC.A) and carries out Dundee Corporation's resource investments and initiatives.

Contact Information

  • Dundee Resources Limited
    Ned Goodman
    Chairman
    (416) 365-5665
    or
    Dundee Resources Limited
    Murray John
    President & Chief Executive Officer
    (416) 365-5645