https://www.engineeringnews.co.za

Metminco declares Andes offer unconditional

8th August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Metminco has declared its takeover offer for target Andes Resources to be unconditional.

Under the terms of the off-market agreement Metminco would issue 25 of its own shares for every Andes share held, with the merger to be conditional on a number of conditions, including a minimum 90% acceptance and the completion of a total of A$4-million capital raise.

Metminco on Thursday said that acceptance for the offer had now reached 99.5%.

The takeover offer will close on August 15, with the consideration shares issued on August 16.

The unlisted Andes holds a portfolio of gold/silver/copper exploration projects in the Cauca Valley, in Colombia, which is in close proximity to Metminco’s existing mineral resource of some 877 000 oz of gold and reserves of 457 000 oz at its Miraflores deposit, as well as its Tesorito prospect and the large undrilled Chuscal target, which is in joint venture with gold miner AngloGold Ashanti.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

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:0.048 0.826s - 140pq - 2rq
Subscribe Now