https://www.engineeringnews.co.za

Bentley Capital bids A$2.3m for explorer Marathon

25th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The directors of exploration company Marathon Resources have asked shareholders to hold off on taking action on an unconditional on-market takeover offer from Bentley Capital.

Bentley on Friday launched a 2.5c-a-share takeover offer for the issued share capital in Marathon that it did not already own, valuing the junior at A$2.3-million. Bentley currently has a 19.98% shareholding in Marathon, which earlier this year won a A$5-million compensation payout from South Australia after the state banned mining at Arkaroola, where it had explored for uranium.

The minerals explorer told shareholders that the offer price was less than one-half of its current cash backing per share.

Marathon has been using the compensation funds to undertake due diligence on a number of potential new projects in Australia and overseas. It has an option to acquire 75% of the Walparuta copper/gold project, in South Australia, and owns a mineral sands project, also in the same state.

Marathon’s share price increased by more than 36% on news of the possible takeover, trading at a high of A$0.034 a share on Friday.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

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







301

sq:0.088 1.476s - 140pq - 2rq
Subscribe Now