Proactive Investors - Run By Investors For Investors

Metminco issues bidder’s statement for merger with Andes Resources

The Andes board unanimously recommend that Andes shareholders accept the takeover offer in the absence of a superior proposal.
merger concept
A merger will create a significant gold exploration company focused in Colombia

Metminco Ltd (ASX:MNC) last night lodged its required bidder’s statement detailing the takeover offer of Andes Resources Limited.

The offer is for 25 Metminco shares for every 1 Andes share, which has been unanimously recommended by the Andes board.

The offer will close at 5.00pm AEST on 23 July 2019, unless extended or withdrawn.

READ: Metminco secures firm commitments to raise $2.3 million to support merger with Andes Resources

In a letter to Andes shareholders, Metminco’s chairman Kevin Wilson said: On behalf of the Directors of Metminco Limited (Metminco), I am pleased to present you with this compelling opportunity to create a leading ASX listed, Colombian focused gold exploration company through the integration of Metminco’s advanced Miraflores Gold Project and Chuscal, Tesorito and other surrounding prospects, with Andes Resources Limited’s (Andes) extensive tenement holding.

“The expanded Metminco will enjoy the benefit of multiple advanced exploration assets and a deep pipeline of exploration opportunities in two richly endowed gold camps.”

View full MNC profile View Profile

Metminco Limited Timeline

Related Articles

1549455327_Gold-bar-plus-nugget.jpg
February 06 2019
Metminco has an attractive portfolio of exploration and development assets
Drilling picture
Thu
The group has a large portfolio of projects, which mitigates risk and increases the chance of making a discovery
Copper
March 21 2019
The group’s ‘flagship’ project BKM Copper Project is located northwest of Palangkaraya, the regional capital of Central Kalimantan, part of the KSK projects which are 100%-owned by the company

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use