i'm flummoxed , page-10

looks we all did - read this again just now on Business Spectator:

http://www.businessspectator.com.au/bs.nsf/Article/Intergra-deal-to-be-finalised-by-Dec-WX4WL?OpenDocument&src=hp9

The head of takeover target Integra Mining says a multi-million dollar deal with Western Australian gold miner Silver Lake Resources should be finalised by the end of the year.

Investors have supported Silver Lake Resources' $426 million friendly takeover of Integra Mining, pushing up the share price substantially after yesterday's announcement.

Integra managing director Chris Cairns said the deal would create one of the country's largest gold producers.

"It has been a long time in coming," Mr Cairns told the Diggers and Dealers conference in Kalgoorlie.

"We very much believe this creates shareholder value."

The deal would incorporate resources totalling 6.6 million ounces.

"It really builds quite a substantial company," he said.

"It will be one of the largest domestic gold producers on the ASX.

"In terms of the timetable, we expect it to be wrapped up in early December."

Mr Cairns said the Integra board was backing the deal which offered an immediate premium of more than 40 per cent to Integra shareholders with exposure to Silver Lake's projects.

There were clear synergies between the two companies and Integra could offer substantial skills in terms of exploration.

At 1219 AEST on Tuesday, Integra's shares were up one cent to 41 cents.