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Monument Mining Ltd V.MMY

Alternate Symbol(s):  MMTMF

Monument Mining Limited is a Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has a 20% interest in Tuckanarra Gold Project, jointly owned with Odyssey Gold Ltd in the same region. Located in the Central Gold Belt of Western Malaysia, the Selinsing Gold Mine covers a total area of approximately 150.3 square kilometers (km2) and includes the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub properties. The Murchison Gold Project includes the Burnakura, Gabanintha, and Tuckanarra properties, which are located in the Murchison goldfield of Western Australia, 40 kilometers (km) southeast of Meekatharra and approximately 765km northeast of Perth. Buffalo Reef lies continuously and contiguously along the gold trend upon which the Selinsing Gold Property is located. Both Felda and Famehub are located east and north of the Selinsing and Buffalo Reef properties.


TSXV:MMY - Post by User

Post by deiwelon Sep 30, 2021 7:23am
151 Views
Post# 33942332

westgold

westgold

Australia's Westgold Resources offers to buy smaller rival Gascoyne for $75 million

(Reuters) - Australian gold explorer Westgold Resources Ltd said on Thursday it intended to buy Gascoyne Resources Ltd for A$104.8 million ($75.3 million), offering an alternative to the smaller rival’s merger plans with Firefly Resources.

Gascoyne in June (here) had announced a A$44.7 million merger with gold explorer Firefly Resources, which would combine the two company's assets in Murchison region of Western Australia.

Westgold, which is offering Gascoyne’s shareholders A$0.4175 per share - a 34.7% premium to its last close - said its proposal is subject to Gascoyne’s merger with Firefly not proceeding.

“Gascoyne shareholders have a superior financial and technical proposal that delivers a premium for their stock,” Westgold Executive Director Wayne Bramwell said.

Gascoyne in a separate filing said it was “not yet in a position to make a formal recommendation to shareholders”, and advised its shareholders to take no action.

Gascoyne shares soared 25% to A$0.39, their biggest intraday jump since December 2018, while Westgold shares declined nearly 4%, as at 0040 GMT.

($1 = 1.39 Australian dollars
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