By: Esmarie Swanepoel
Australian gold miner Evolution Mining has launched a counter takeover offer for fellow-listed Phoenix Gold, giving shareholders in that company an alternative to the Zijin Mining offer.
Evolution, which currently holds a 19.8% stake in Phoenix, was offering 0.06 of its own shares, along with 6c in cash for each Phoenix share held. The offer valued Phoenix shares at some 12c each, and valued the company at A$56.4-million. →