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Fitzroy to take control of Royalco

14th January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Fitzroy River Corporation will start the compulsory acquisition of the remaining shares in fellow-listed Royalco Resources, after gaining a 90% stake in the junior takeover target.

Fitzroy in November last year launched a 24c a share cash offer for each Royalco share not already owned by the company, valuing the takeover target at around A$12.65-million.

Royalco Resources is a royalty house holding a portfolio of royalties in Victoria, New South Wales, Queensland, New Zealand and the Philippines.

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Edited by Creamer Media Reporter

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