Monument Mining (TSX: V.MMY, Stock Forum) late Tuesday said it has made an indicative non-binding conditional proposal to acquire all the share capital of Central Australian Phosphate Limited (CEN) at an indicative offer price of A$0.031 per CEN share in cash, this according to a company news release.
The offer values the company at A$18.3 million, or C$19.2 million, before transaction costs.
Monument Mining is a Canadian gold producer, which owns and operates the Selinsing Gold Mine in Malaysia. The miner recently reported record second-quarter gold production of 15,902 ounces, 35% higher than during the same period last year.