Tussle erupts over Kingsgate's Challenger mine

ASX-listed Marmota Energy has started a bidding war for gold miner Kingsgate Consolidated’s Challenger mine, in South Australia. At the end of last week, Kingsgate announced that it had executed an option agreement with fellow-listed WPG resources and its joint venture partner Diversified Minerals to divest of the Challenger mine for A$1-million, as well as a A$25/oz royalty on the Challenger south south west zone, which would take effect after the first 30 000 oz of production.