Doray Minerals (ASX:DRM) will acquire Mutiny Gold (ASX:MYG) with an off-market takeover offer of 1 new Doray share for every 9.5 Mutiny shares held.
Offer values Mutiny at $0.054 per share.
Major Mutiny shareholders have entered into pre-bid acceptance agreements with Doray in respect of 18.68% of Mutiny's shares.
The Mutiny board has unanimously recommended the offer.
Mutiny security holders will hold up to 33% of the combined group (on a fully diluted basis).
90% minimum acceptance condition.
The proposed merger creates a portfolio of complimentary high-grade production, development and exploration assets.
Forecast production is around 160,000oz AuEq per year from FY2016.
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Last
$1.50 |
Change
0.000(0.00%) |
Mkt cap ! $142.7M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $1.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.50 | 44047 | 2 |
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