Metals Exploration makes takeover bid for Condor Gold.
Condor Gold said on Monday that it has received a non-binding takeover offer from AIM-listed group Metals Exploration.
Metals Exploration
02 December 2024 10:21:47
Source: Sharecast
Metals Exploration's offer, which values Condor Gold at £150.0m, was said to be in "advanced-stage discussions" but the group noted that there was still no certainty that any firm offer will be made.
Metals Exploration also announced that it had entered into an unsecured bridging term loan facility for £5.5m with Drachs Investments in connection with the possible offer.
Elsewhere, Canadian outfit Calibre Mining stated that while it had engaged in discussions with Condor regarding the potential acquisition of its La India asset, it was not currently in talks with the group.
As of 1015 GMT, Condor shares had surged 19.58% to 28.70p, while Metals Exploration shares were down 7.02% at 5.30p.
Reporting by Iain Gilbert at Sharecast.com
N/A
ISIN:
N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
