PERTH (miningweekly.com) – ASX-listed gold producer Lihir on Thursday reported that it had appointed independent advisers to assist in assessing a range of “strategic alternatives” to the Newcrest offer.

The company appointed Macquarie Capital and Greenhill Caliburn as advisers.

Lihir has rejected an all-share takeover offer from fellow gold producer Newcrest, at the beginning of this month.

Australia’s number-one gold producer had offered Lihir shareholders one of its own shares for every nine Lihir shares, as well as A$0,225 cash per share.

However, Lihir said that the offer undervalued the company, both in terms of existing business and growth potential.

“Lihir’s board remains committed to maximising value for its shareholders and this will continue to be the only criterion by which any further proposals or strategic options are evaluated,” said Lihir chairperson Ross Garnaut.

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