Inova deal goes unconditional
PERTH (miningweekly.com) - China’s Shanxi Donghui Coal Coking & Chemicals Group’s bid for ASX- and TSX-listed Inova Resources has been declared unconditional after major shareholder Turquoise Hill Resource accepted the offer.
Turquoise, which holds a 56.1% shareholding in Inova, has advised the junior that it would be accepting the 22c a share offer, taking Shanxi Donghui’s shareholding in Inova to 59.7%.
Inova’s remaining shareholders have been urged to accept the offer, which would remain open until November 14.
Inova owns the Osborne copper/gold mine, as well as the Mount Elliott copper/gold project and the Merlin molybdenum project, in Queensland.
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