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MDL accepts offer for World Titanium shares

MDL accepts offer for World Titanium shares

Photo by Reuters

4th March 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Mineral Deposits Limited (MDL) on Friday announced that it would accept an offer from African Minerals Exploration & Development (Amed) for its 20.02% shareholding in fellow-listed World Titanium Resources.

Amed in January launched a takeover for World Titanium, offering shareholders 5c a share in cash for their shareholding in the mineral sands developer.

MDL expected to raise A$6.45-million from the sale of its holding in World Titanium.

Amed currently holds a 20.37% relevant interest in World Titanium, which is developing the Toliara Sands project, in Madagascar.

Edited by Creamer Media Reporter

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