Iluka Resources Limited has offered £215mln for the entire issued share capital of Sierra Rutile Limited (LON:SRL). The acquisition will be implemented by merging Sierra Rutile with Iluka Investments.
Subject to the approval by shareholders, Sierra Rutile will cease the trading of its shares on AIM.
Drilling started on the LD-1 development well - which will be referred to as QUN-159 going forward - on August 8 at the Morne Diablo field.
The Healthy Weight Loss Company, which is 51% owned by OptiBiotix, has won shelf space in the healthy foods-focused supermarket chain for its GoFigure meal replacement shakes and natural snack bars.
Production at the mine was temporarily suspended in July after an explosives incident, but work on the 310 metres underground level in the Upper K4 Block at Lace restarted last month.
Vikram Kailas, currently chief financial officer, has now become the company’s new chief executive taking over the role from Ravi Kailas, who retains his role as chairman.
With the recent completion of the acquisition of the remaining two licences that make up the Glencore Araguaia nickel site, the enlarged property is one of the world’s largest nickel saprolite projects.
The refurbished units - a scoop and a drill jumbo - are expected to be delivered this month (August).
The utility cost management consultancy said Flattery would take on the role on 1 October. At present, he is president of Sage’s European operations, and prior to that he had been chief executive of Sage’s UK & Ireland business.