2206 GMT - Gold Fields' decision to go public with its unsuccessful takeover proposal for Gold Road worth A$3.05/share signals more than just frustrated ambition, suggests Jefferies. Gold Fields owns 50% of the Gruyere gold project in Australia, with Gold Road owning the rest. "More than anything the announcement demonstrates the deterioration of the relationship to the point where grievances are now being aired publicly," analyst Mitch Ryan says. Jefferies says the bid's timing is highly opportunistic because a study into a potential underground expansion of Gruyere has not yet been released. "As such, we would prefer to see Gold Road as operators of the consolidated asset," it adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 24, 2025 18:06 ET (22:06 GMT)
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