https://www.engineeringnews.co.za
Exploration|Gold|Mining
Exploration|Gold|Mining
exploration|gold|mining

AuStar weighing buy of neighbour Centennial

3rd May 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior AuStar Gold on Friday revealed intentions to make a takeover offer for embattled Centennial Mining.

Centennial Mining went into voluntary administration in March this year, after failing to complete an audit and recapitalization plan.

The administrators of Centennial Mining have received a number of unsolicited approaches from existing creditors, prompting AuStar to enter into its own discussions with the administrators to assess the potential of a takeover.

AuStar is ramping up production from the Rose of Denmark and Morning Star mines, and has exploration assets around Centennial’s A1 mine.

“AuStar has publicly advised that regional consolidation is a logical component of the company’s overall growth strategy. Bringing these assets together has the potential to accelerate growth for all shareholders, as well as deliver economic benefits to the region,” said AuStar executive chairperson Frank Terranova.

“With obvious geographical, geological, mining, processing and administrative synergies, the possible asset combination has the potential to create a platform for sustained growth within Victoria and beyond.”

Edited by Creamer Media Reporter

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.094 0.149s - 158pq - 2rq
Subscribe Now