The Globe and Mail reports in its Friday, Dec. 17, edition that five major mining companies engaged in an intense bidding war for Great Bear Resources, with Kinross Gold eventually emerging the winner last week. The Globe's Niall McGee writes that three unnamed sources said Barrick Gold and Agnico Eagle Mines, as well as Australia's Evolution Mining and Newcrest Mining, were offered the opportunity to bid on Great Bear. The parties were given access to Great Bear's confidential data, conducted site visits at Red Lake in Northwestern Ontario and almost all tabled formal offers. Kinross, Barrick, Agnico and Evolution declined to comment. Great Bear chief executive officer Chris Taylor says he cannot say anything on the internal details of the Kinross deal, "other than to confirm it was multi-party." The intense competition for the early-stage Great Bear, which has no proven gold reserves at its Dixie project, illustrates how rare big gold finds are becoming worldwide, and the lengths the largest mining companies are going to secure them. Kinross announced on Dec. 8 it had reached a friendly agreement with Great Bear to acquire the firm for $1.8-billion in cash and stock, a 26.5-per-cent premium to its market price.