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Company SYLVANIA RESOURCES LD ORD NPV (DI)
TIDM SLV
Headline UPDATE 1-Sylvania Resources gets offer approach
Released 12:37 24-Jun-2009
Number AFX.nbng377806




* Says in talks that may or may not lead to an offer
* Shares rise as much as 9 pct

(Adds details)
June 24 (Reuters) - Australia-based platinum-group metals producer Sylvania Resources Ltd said on Wednesday it had received an approach from a third party, and the discussions may or may not lead to an offer for the company.
'At this stage there is no certainty that an offer will be made for the company,' Sylvania said in a statement in response to recent press speculation and the increase in its share price.
The AIM-listed miner recently offered to buy Australia's SA Metals Ltd and Great Australian Resources Ltd.
All three companies have interests in platinum-group metals (PGM) exploration projects in the Bushveld Igneous Complex of South Africa.
Sylvania shares were up 5.2 percent at 80.5 pence at 1100 GMT on the London Stock Exchange, after having risen to 83 pence earlier in the session.
(Reporting by Balachander Surianarayanan in Bangalore; Editing by Kavita Chandran) Keywords: SYLVANIARESOURCES/
([email protected]; +91 80 4135 5800; Reuters Messaging: [email protected])

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