Mutiny Gold (ASX:MYG) has now dispatched its Target Statement where the directors have recommended the Doray Minerals (ASX:DRM) bid.
Doray would look to acquire all of the shares of Mutiny on the basis of one Doray share for every 9.5 Mutiny shares.
Currently, Doray has a stake of 18.68% of Mutiny.
In late October when the deal was announced, this valued Mutiny shares at $0.054, or an enterprise value of $44 million.
Mutiny closed last night at $0.029.
The companies have said that the merger with create a leading, mid-tier high-grade Western Australian gold company with substantial growth prospects and forecasts annualised production of around 160,000 AuEq from commissioning of the Deflector Project.
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Last
78.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $71.56M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13339 | 78.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 80.0¢ | 75597 | 3 |
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| Last trade - 16.12pm 07/06/2024 (20 minute delay) ? |
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