Outback Metals’ (ASX:OUM) largest shareholder South Cove Limited...

Outback Metals’ (ASX:OUM) largest shareholder South Cove Limited has moved to acquire all shares in the company that it does not already own.

SCL, a company associated with OUM chairman Graham Chrisp, holds 90.17% of the company’s issued shares.

It has prepared an Independent Expert’s Report (IER) that concludes the price of $0.0003 per share that SCL proposes to pay are fair and at the top of their estimated values.

Earlier this week, SCL acquired 73,252,250 shares from its associate Territory Development Corporation Pty Ltd.