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Andean Resources (ASX:AND) has been approached by Eldorado Gold Corporation (ASX:EAU) to combine the two companies.
Eldorado says the merger would create the world's fastest growing and lowest cost gold producer.
The proposal put forward to the Andean board is for a share exchange transaction at a fixed exchange ratio of 0.31 of a common Eldorado share for each Andean ordinary share through a friendly transaction.
Eldorado says the offer is extremely compelling for all and would result in Andean shareholders owning around 24 per cent of the combined company.
Andean is a dual listed company whose main asset is the Cerro Negro Gold Project in Argentina.
Andean Resources reported a net loss of $7.24 million for the year to 30 June 2009.
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Last
$2.43 |
Change
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Mkt cap ! $217.0M | |||
| Open | High | Low | Value | Volume |
| $2.44 | $2.44 | $2.43 | $521.9K | 214.1K |
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| No. | Vol. | Price($) |
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| 2 | 164963 | $2.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
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| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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$2.43 |
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| Open | High | Low | Volume | ||
| $2.44 | $2.44 | $2.43 | 3843 | ||
| Last updated 15.23pm 08/05/2024 ? | |||||
| AND (ASX) Chart |