Monarch has announced plans to merge with rival gold mining outfit Serbia. This will help it command a position at the forefront of emerging gold companies. The merger will ensure a resource base of over two million ounces and a powerful command of Australias Davyhurst-Ida greenstone belt and Siberia Gold Camp mining sites.

Monarch has offered one share for every two Siberia shares which has received backing from Siberias board though shareholders have yet to give the go ahead. The merger has been greeted as a logical step because of the soaring value of gold. The two companies seem to be jelling well with each other. Monarch recently bought a processing plant in Davyhurst, Western Australia and Siberias mining stronghold is just to the south.%%"The combined group would have a dominant position in the prolific gold belts to the north west of Kalgoorlie, becoming the largest Australian-controlled regional tenement holder in the region," commented Andrew Forrest, Siberias Chairman. If the merger falls into place, Monarch is expected to forge ahead with an aggressive growth strategy in the region.