https://www.engineeringnews.co.za

Middle Island extends offer for Alto

26th July 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Suitor Middle Island Resources has extended the takeover offer period for fellow listed Alto Metals until the close of business on September 30.

Middle Island at the end of June increased its scrip offer for Alto from five Middle Island shares held for every one Alto share, to six Middle Island shares for every one Alto share.

The increased offer valued Alto shares at about 5.4c each, up from the initial 4.5c each, Middle Island said.

Alto owns the Sandstone gold project, which is currently estimated to host some 261 000 oz of gold in the East Murchison mineral field of Western Australia.

Middle Island also owns a Sandstone project, with an estimated indicated and inferred mineral resource of 537 000 oz, and an exploration target of between 900 000 oz and 1.5-million ounces.

Middle Island has previously announced plans to integrate the two assets and immediately embark on an updated feasibility study to determine the economics of a gold processing plant.

To date, Middle Island has acquired a 1.52% interest in Alto Metals.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

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 0.946s - 140pq - 2rq
Subscribe Now