https://www.engineeringnews.co.za

Echo and Metaliko in possible merger

28th September 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH  (miningweekly.com) – Rumours abound that ASX-listed Echo Resources and Metaliko Resources are planning a merger, after both went into a trading halt pending an announcement around a "material transaction".

Echo in August received an indicative nonbinding takeover offer of 15c a share from an unnamed third party. The proposal had been subject to the completion of a due diligence.

Echo is exploring for gold, copper and nickel deposits in Western Australia and Queensland and currently owns the Julius gold discovery in the Yandal gold province.

Metaliko owns the Yandal gold project, in Western Australia, which includes the two-million-tonne-a-year Bronzewing milling facility, a 280-room village, and project tenements and production infrastructure.

The Cockburn prospect, within the Yandal project, is estimated to host a resource of 5.59-million tonnes, at 1.94 g/t gold for 349 000 oz.

Both companies were expected to restart trading on September 30.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

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:0.055 0.46s - 140pq - 2rq
Subscribe Now