News: Doray Minerals pounces on Mutiny Gold

  1. 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
$1.21
Change
0.005(0.42%)
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