Teryl Resources bats away Kinross offer to buy out Gil Gold Property JV

Teryl Resources (TSX-V: TRC) (OTCBB: TRYLF) has rejected an offer from Fairbanks Gold Mining, a subsidiary of Kinross Gold (TSX: K, NYSE: KGC) to acquire the remaining interest in the Gil Joint Venture gold property in Alaska.
Teryl said it could not agree to accept the offer as Kinross Gold had failed to report several assays from a 16,000 foot drilling program completed in 2009.
“The Company's Board of Directors have determined that the said Letter of Intent Offer cannot be accepted due to the fact that the 2009 exploration report and several assays have not been received from Kinross Gold by the due date of the said offer,” Teryl Resources summarised.

“John Robertson states that the current gold assay results received to date from the 2009 - 16,000 foot drilling program was very positive on the Sourdough Ridge Zone and the future potential is very encouraging (see Press Release dated October 20, 2009 for assay details).”

 Kinross Gold currently has an 80% interest in the Gil joint venture, and was seeking to increase its participation to 100%.  http://www.proactiveinvestors.com/companies/news/3488/teryl-resources-bats-away-kinross-offer-to-buy-out-gil-gold-property-jv-3488.html