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Temex Achieves up to 98% Gold Recovery in Metallurgical Testwork on High Grade Whitney Project, Timmins Gold Camp

Message: From Stockwatch... GLTA!

Ian Campbell's Temex Resources Corp. (TME), up one-half cent to 11 cents on 737,000 shares, says two main proxy advisory firms support its plan to merge with Tony Makuch's Lake Shore Gold Corp.(LSG: $1.02). Lake Shore is offering 0.105 share for each Temex share, which was a significant premium at the time. Mr. Campbell, president and CEO, says he and his crew believe there are strong synergies between Temex and Lake Shore Gold -- perhaps in the sense that there can be synergies between a mouse and an elephant. (Lake Shore has a market capitalization an order of magnitude larger than Temex's market value, although Mr. Campbell's $205,000 salary is neither elephant nor mouse.) Mr. Makush, who earned $660,000 as Lake Shore's CEO last year, but also received a bonus of nearly $1-million, said that Lake Shore Gold already owns gold properties in the Timmins area, and he thinks Temex's Whitney and Juby properties might complement them nicely.

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