News, not about OREA/Montange d'Or but worth thinking about by OREA shareholders. The Chinese came up with an all cash buyout and is also a major gold producer. It is just an example of several Chinese mineral companies that are on the hunt in Africa and S. America.
NG does not want a Montagne d'Or partner so what happens if a Chinese entity wants OREA's 45% (knowing NG's non partner stance) and out bids them (as with Cardinal Res)? Does NG then offer to sell the entire mine upping the price? Price does not seem ot be an issue for these Chinese bidders where the state has determined it wants global resources.
Clearly the Russians and Chinese would have enough politcal savy about them to know that such a contentious bid prior to Macron's relection attempt in April 2022 would be project award suicide. But after...?
Zijin Mining to Acquire Neo Lithium Corp. in All-Cash Offer
All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.
Zijin Mining Group Co., Ltd. ("
Zijin") (SSE: 601899) (SEHK: 2899) and
Neo Lithium Corp. ("
Neo Lithium" or the "
Company") (TSXV: NLC) (OTCQX: NTTHF) (FSE: NE2) are pleased to announce that they have entered into a definitive agreement (the "
Arrangement Agreement"), pursuant to which Zijin has agreed to acquire all of the outstanding shares of Neo Lithium (the "
Transaction") at a price of C$6.50 per share (the "
Offer Price") in cash. The Offer Price represents a premium of approximately 36% over Neo Lithium's 20-day volume-weighted average price ("
VWAP") as at October 8, 2021 on the TSX Venture Exchange ("TSXV"). The total cash consideration for all of the outstanding equity of Neo Lithium is approximately C$960 million...
GLTA -
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