Centamin extends Ampella takeover offer
PERTH (miningweekly.com) – Centamin West Africa Holdings – a wholly owned subsidiary of TSX- and LSE-listed Centamin – has extended its takeover offer for ASX-listed Ampella Mining, but has told the company’s shareholders that it would not increase its offer price.
In December, Centamin launched a one-for-five share offer for Ampella, valuing the African explorer at around A$40.9-million. The offer price represented a 113% premium to Ampella’s closing price at December 6, and a 77% premium to the 20-day volume-weighted average price.
The takeover offer has been extended to close on February 27, and Centamin has encouraged Ampella shareholders to accept the offer. To date, the company has acquired a 35.29% shareholding in Ampella.
Once Centamin acquires a 90% shareholding in Ampella, the company would launch a compulsory acquisition of the remaining shares.
Centamin has previously told Ampella shareholders that the deal would result in a significant gold production company, with Centamin's significant cash resources and expected future cash flows from its Sukari gold mine, in Egypt, providing “a high level” of funding certainty in the current challenging market environment.
Centamin's long-life Sukari gold mine produced 356 943 oz in 2013, and output is expected to increase to between 450 000 oz/y and 500 000 oz/y from 2015.
Ampella’s Batie West gold project, in Burkina Faso, which hosts the 3.25-million-ounce Konkera Resource, and 1 200 km2 of exploration ground across the border from Batie West, in Côte d'Ivoire, would also boost Centamin’s development portfolio.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
