East African partial gold miner Perseus has still taken over OreCorp after the latter’s suitor is Canadian, Silvercorp dropped its inventory and cash proposal.
Silvercorp’s withdrawal from its offer came after Perseus increased its offer to 57. 5 cents per percent and revealed that it had secured ownership of two major OreCorp percentage holders who collectively own more than 15%.
The top offer will cost Perseus about $270 million.
In a statement to ASX on Monday, OreCorp said its board of directors “recommends that shareholders ACCEPT Perseus’ amended proposal once it is more likely to be accepted, in the absence of an impressive proposal. “
“As one or more of the adverse situations of Silvercorp’s Offer have not been waived or have not been rejected at the final time, Silvercorp’s Offer has now expired and the acceptances of OreCorp’s shareholders who accepted Silvercorp’s Offer have been voided,” OreCorp said in a statement on Monday.
“Pursuant to the terms of the Offering Implementation Act between OreCorp and Silvercorp of December 27, 2023 (BID), OreCorp has provided Silvercorp with notice of termination of the Offering. Regardless of termination, Silvercorp will continue to be entitled to collect an interruption payment of approximately $2. 8 million in certain circumstances, according to the IDB.
OreCorp said the directors, who own about 3. 9% of OreCorp’s shares, intend to settle for Perseus’ amended proposal.
OreCorp’s appeal to Perseus is that it will add the African gold mining proposal to its portfolio. OreCorp’s key task is the Nyanzaga gold allocation in northwestern Tanzania.
Perseus operates 3 gold mines in Africa: Edikan in Ghana and Sissingué and Yaouré in Côte d’Ivoire.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding MoUs within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese raw materials trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, meaning if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of financing the order and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.