Australia's Catalyst Metals has made a takeover offer for Canada-based Superior Gold to consolidate gold assets in WesternAustralia, following its takeover of Vango Mining mining resources acquisition investment
PERTH – ASX-listed Catalyst Metals is continuing with its acquisitions campaign, announcing plans to acquire TSX-V-listed Superior Gold.
Catalyst has moved to the compulsory acquisition of the remaining shares in Vango Mining, which owns the Marymia gold project, which is adjacent to the Plutomic operation and has a resource of one-million ounces, including a high-grade component of 517 000 oz at 8.2 g/t gold. “This is the transaction that Superior and Catalyst shareholders have been looking for. It is a logical consolidation that offers significant potential for operating synergies while also lowering risk,” said Catalyst MD“The combination of the large resources, big processing capacity and considerable exploration upside gives the combined group genuine scale, long mine life, strong cashflow and outstanding growth prospects, all in the heart of a world-class gold belt in Western Australia.
“Shareholders will also benefit from Catalyst’s strong Australian shareholder register, financial strength and portfolio of exploration projects. We would like to thank our indigenous partners, the Jiddi-Jiddi and Gingirana, for all of their support. I am confident that, when completed, this transaction will mean an even stronger future for Plutonic.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Forecast: Gold Continues to Sit at the Support LevelGold markets have done very little during the trading session on Wednesday as we continue to hang around the 38.2% Fibonacci level.
Read more »
Angel number 555: Why this pattern could be a 'catalyst for change'You can interpret seeing 555 as a sign to re-evaluate the beliefs that you're carrying around and unburden yourself from negativity.
Read more »
Copper catalyst may be essential for production of solar fuels from sunlight, water, CO2Exploring copper’s properties as an electrocatalyst has brought scientists one step closer to us turning CO2 into solar fuels through artificial photosynthesis.
Read more »
Osisko Metals forms joint venture with Appian on Pine Point project in Northwest TerritoriesAppian, as the JV partner, would invest up to C$100 million over an estimated four-year period to acquire a 60% interest in the project.
Read more »
Indian shares erase gains as financials, metals weighIndian shares pared gains on Friday mirroring financials, while a slide in metal stocks and fears of aggressive interest rate hikes by global central banks weighed on sentiment.
Read more »
Materials breakthrough: An anti-corrosive polymer that self-heals and is recyclablePoly Phenylene Methylene is highly effective on metals, especially aluminum.
Read more »