Listed Mining Companies
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JOHANNESBURG (miningweekly.com) – ASX- and Aim-listed Dwyka Resources on Monday reported that it was in discussions, which could lead to an all-share offer for UK-based minerals explorer Minerva Resources.
The company said in a statement that the two parties would seek to reach an agreement on an offer valued at no less than 1p a Minerva share, which would represent a premium of at least 42,9% to the middle market price of 0,7p a Minerva share at close of business on January 29.
The offer would also represent a premium of 37% to the volume weighted average middle market price of 0,73p a Minerva share for one month prior to January 29.
The offer would be subject to the satisfactory completion of the current due diligence exercise.
Minerva’s main focus is resource development in Ethiopia, where it explores for gold at the Tulu Kapi and Guji prospects and the Yubdo platinum mine.
Dwyka has interests in a gold project in Swaziland and a nickel-exploration project in Burundi.
