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CWH Resources (ASX: CWH) is eyeing an acquisition which would give the company access to near term and mid-stage resource projects including a near-term gold and iron ore project in the Northern Territory.
The company went into a trading halt today to announce that it is making preliminary enquiries regarding the acquisition of shares in private company Aard Metals.
CWH has flagged an offer of $0.40 per share for Aard shareholders, valuing the company at about $27 million. Any offer would be subject to at least 51% of Aard shares being available to the company.
Aard’s main focus is on commencing production from an iron ore and gold project in Warrego, the Northern Territory. In addition, Aard has a project area in Western Australia’s Pilbara region and exploration permits in South East Queensland.
CWH will consider putting forward a formal offer for Aard if there is sufficient interest from shareholders.