Barry Fitzgerald who has covered the resources industry for 30 years has recently written of likely takeover activity in the junior gold sector. Both articles mention Echo Resources
On 14 September, commenting on the Ramelius' bid for Explaurum he writes "it cannot hurt to wonder who might be next if the buy-cheap-ounces-with-exploration-upside thematic takes hold. Some names that come to mind include Ausgold, Bellevue, Breaker, Capricorn, Echo, Genesis Minerals, Kin and Bellevue."
https://resourcesrisingstars.com.au...rings-whiff-takeover-fever-junior-gold-sector
His comment at least in relation to Capricorn was prescient.
On 24 September Capricorn confirmed it was in receipt of a an aquisition proposal from Regis Resources at a 93% premium to Capricorn’s closing share price on Friday 21 September 2018 of 5.9¢.
More recently wrote for *:-
"
Who’s next?
Still, there is a bunch of juniors that for one reason or another are considered likely takeover candidates, with the potential for a big premium to ruling market prices required to effect the change in control.
...
Stocks mentioned in our polling included, in alphabetical order only, the following:
— Ausgold (ASX:AUC) — 2.2c
— Bellevue (ASX:BGL) — 19.5c
— Breaker (ASX:BRB) — 32c
— Echo (ASX:EAR) — 14.5c
— Genesis Minerals (ASX:GMD) — 3.5c"
https://unauthorised investment adv...e-way-and-these-stocks-are-in-the-crosshairs/
My comments (Ajax)... I find Echo Resources interesting in that is is sitting on large undeveloped resources (1.7m ounces of mineral resources at Yandal), has a processing plant in Bronzewing that needs to be re-instated (and not constructed from scratch) and has a cashed up shareholder (Northern Star) with a 19.8% shareholding (very close to the 20% threshold for a takeover bid).
