In light of the lack of engagement by the board of Kirkland Lake in response to these proposals, and there being no basis to expect any further engagement from Kirkland Lake, Gold Fields and Silver Standard are left with no choice but to withdraw their latest proposal.
Gold Fields remains interested in pursuing negotiations toward a board-supported transaction with Kirkland Lake in the event that Kirkland Lake's shareholders reject the Newmarket transaction.
This press release is not, and is not intended to be, a solicitation by Gold Fields of proxies from any shareholder of Kirkland Lake or Newmarket. Gold Fields does not seek the power to act, and will not act, as proxy for any shareholder of either company.
Notes to editors
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with attributable annual gold production of approximately 2.0 million ounces. It has attributable Mineral Reserves of around 46 million ounces and Mineral Resources of around 102 million ounces. Attributable copper Mineral Reserves total 532 million pounds and Mineral Resources 5,912 million pounds. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited, South Africa