JOHANNESBURG (miningweekly.com) – Melbourne-based exploration and development company Dart Mining said on Monday that it had received a takeover offer from an undisclosed bidder, but recommended shareholders take no action.
Dart Mining, which is focused on the Unicorn molybdenum/copper/silver project in Victoria, said the bidder proposed to pay 6.5c a share for Dart Mining, of which 3.5c a share would be in cash and the balance in shares.
“On the face, the nominated price in the proposed offer, in the opinion of the board, is considerably below the board’s valuation of the company, including the Unicorn project.”
The Dart Mining board has appointed Melbourne-based corporate advisory firm SLM Corporate and law firm Foster Nicholson Jones to assist in exploring its options.