JOHANNESBURG (miningweekly.com) – Lithium miner Galaxy Resources has extended the takeover offer period for its joint venture (JV) partner General Mining to August 5.
Since the offer opened on June 28, Galaxy has received acceptances for 72.4% of the fully paid ordinary shares in General Mining, giving it a total interest of 74.3% in General Mining.
The board of General Mining has recommended that shareholders accept the offer, which will give them 1.65 new Galaxy shares for every one General Mining share.
The two companies are JV partners in the Mt Cattlin project, in Western Australia.