PERTH (miningweekly.com) – Junior Echo Resources has completed the offmarket takeover of fellow-listed Metaliko Resources, with the company acquiring an interest of more than 94.8% in the takeover target.
The two companies in September last year announced the merger under which Echo would acquire all the issued shares in Metaliko in a share-swap, offering one of its own shares for every two-and-a-half Metaliko shares held.
With the offer now closed, Echo will start the compulsory acquisition of the remaining shares in Metaliko. On the completion of this process, Metaliko will become a wholly-owned subsidiary of Echo.
The company’s shares will be suspended from trading on the ASX and will be delisted in the coming weeks.
Echo is exploring for gold, copper and nickel deposits in Western Australia and Queensland and currently owns the Julius gold discovery in the Yandal gold province.
Metaliko owns the Yandal gold project, in Western Australia, which includes the two-million-tonne-a-year Bronzewing milling facility, a 280-room village, and project tenements and production infrastructure.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
