Street Talk understands the $71 million Brightstar Resources and the $24 million Alto Metals are set to merge in an all-scrip deal. The shares will be exchanged on a one-for-four basis, giving Brightstar a circa 66.6 per cent ownership of the combined entity.
In parallel with the merger, the new combined entity will seek to raise about $20 million from investors via brokers Canaccord Genuity and Argonaut.
Alto’s Sandstone project sits on 900 square kilometres in Western Australia, which it says has been producing gold since the 19th century. It is next door to Westgold’s Big Bell mine and Ramelius’ Mount Magnet. The ASX-listed minnow had long been seen as a takeover target – the now $1.2 billion Westgold Resources had a circa 14 per cent stake at one point, while China’s Shandong Goldsea Group Co tabled a bid in 2020.
Brightstar, for its part, is led by Alex Rovira, who was previously a banker at Canaccord Genuity.
- Forums
- ASX - By Stock
- BTR
- Ann: Trading Halt
Ann: Trading Halt, page-15
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BTR (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.8¢ |
Change
-0.001(2.78%) |
Mkt cap ! $124.8M |
Open | High | Low | Value | Volume |
1.8¢ | 1.8¢ | 1.8¢ | $53.13K | 3.030M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
60 | 16579259 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.8¢ | 4652596 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
58 | 16464259 | 0.017 |
31 | 14863571 | 0.016 |
16 | 4908499 | 0.015 |
12 | 5790914 | 0.014 |
7 | 2849549 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.018 | 4652596 | 11 |
0.019 | 10828159 | 23 |
0.020 | 11168218 | 22 |
0.021 | 4135208 | 6 |
0.022 | 2813730 | 8 |
Last trade - 15.36pm 09/10/2024 (20 minute delay) ? |
Featured News
NEWS
Gold nuggets unearthed at Comet Well ahead of drilling! Discoveries continue as exploration ramps up
LU7
The Breakdown: Lithium Universe talks refinery design and lithium processing in strong preliminary feasibility study for Bécancour
BTR (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online