Monarch Resources

A$40m Recommended Takeover Offer for Siberia Mining Corporation

February 2006

Monarch Resources is a Western Australian focused gold producer and was advised by Azure Capital in acquiring Siberia Mining, which held complementary tenements in the same region as Monarch. The 100% scrip offer was recommended by Siberia and supported by its major institutional shareholders. The transaction enabled Monarch to increase its resource base and ultimately commence production of gold from its Davyhurst Mill in August 2008, some 18 months after completion.