The Chatree gold mine in Phichit, operated by Akara Resources, a subsidiary of Australia's Kingsgate, was ordered to stop mining by Dec 31. However, the offer price was only 4.2 Australian cents a share, well below the current price of 41 cents. "The offer price is in line with the current situation since we have evaluated Kingsgate's annual account before the offer," said Mr Chatchai. Kingsgate is a gold and silver mining, development and exploration company based in Sydney, Australia. Mr Chatchai said Akara was granted licences to operate a gold mining business in Phichit until 2028, meaning it still has the right to mine there.

Source: Bangkok Post September 21, 2016 23:48 UTC