Ann: 1.9km of drilling commencing along strike of 1.5Moz Resource, page-11

• Wyloo lobs bid for nickel miner Mincor afetr recent underperformance
• $1.40 on market takeover offer values MCR at 35% premium and $760 million
• RBC: “Optimistic” bid could face opposition, but BHP offer “unlikely”

Mining billionaire Andrew Forrest could become the sole owner of one of WA’s biggest nickel miners and revive tensions with the world’s biggest miner BHP (ASX:BHP) after lobbing a bid valued at $760 million to take out Mincor Resources (ASX:MCR).
Twiggy’s private investment vehicle Wyloo Metals has latched onto a 49% fall in the Kambalda nickel producer’s share price over the past 12 months.
Holding almost 20% of the miner, which owns ground from which most of Kambalda’s historic 1.5 million odd tonnes of nickel metal has been produced, Wyloo’s $1.40 per share bid comes in at around a 35% premium to Mincor’s previous trading price of $1.04.
It will begin purchasing shares on market from today ahead of an official offer opening on April 5.
Mincor has, of course, told shareholders to take no action, warning they will miss the upside of any future bidding action if the buy into the offer now. Sternship Advisors, Gilbert and Tobin and Barrenjoey are in the defence team.
“We are in a world where the adoption of electric vehicles and industrial decarbonisation continues to increase demand for high-grade nickel sulphides,” Mincor MD **rielle Iwanow said.
“The grade, location, metallurgy and exploration upside of Mincor’s Kambalda nickel sulphide assets mean that they are highly strategic for industry players operating both upstream and/or downstream in battery and critical minerals.
“As Mincor approaches full ramp-up in mining, and continues to pursue its highly prospective exploration opportunities, we believe that this strategic value will continue to grow.”