Phoenix Gold advises take no action to Evolution bid
Evolution Mining’s competing offer is at a premium to Zijin Mining Group’s offer; Phoenix Gold has advised shareholders to take no action until it has considered the offer.
Company
Evolution Mining Ltd
ASX:EVN
Evolution Mining (ASX:EVN) formerly Catalpa Resources has two gold assets, a 100% interest in the 100,000 ounce per annum Edna May Gold Operations in Western Australia and a 30% interest in the 100,000 ounce per annum Cracow Gold Operations in Queensland (70% Newcrest Mining).
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Phoenix Gold: Evolution Mining trumps Zijin takeover offer
Evolution Mining’s off-market offer of 0.06 EVN shares at A$0.06 cash for each Phoenix Gold share represents a 20% premium to Zijin Mining Group’s $0.10 cash per share offer. Shares in PXG are currently trading at $0.105.
Emmerson Resources drills Gecko deep, hits new copper heights
Striking copper intersections of 7 metres at 5.98% copper could allow the company to forge an extension to the existing Goanna-Gecko Inferred Resource. Further assays are pending from new, deeper zones of mineralisation.
Emmerson Resources to earn income from Tennant Creek gold mining
The royalty agreement enables Emmerson to generate ongoing income from mining of a non-core asset in its Tennant Creek portfolio. Narrow vein mining specialists Edna Beryl Mining Company have extensive experience in the Tennant Creek Minera
Phoenix Gold receives formal takeover bid from Zijin Mining
Zijin Mining Group has made an off-market takeover offer of $0.10 cash per share, valuing Phoenix Gold at about $47 million. Shares in PXG are currently trading at $0.105. The company has advised shareholders to take no action.
Phoenix Gold receives takeover offer from Zijin Mining Group
Phoenix Gold has received a takeover offer from Zijin Mining Group Co., Ltd after close of business on Friday. The offer values Phoenix at around $47 million.