Focus completes Focus Laverton acquisition
PERTH (miningweekly.com) – Gold miner Focus Minerals has closed its takeover offer for the remaining shares in Focus Laverton, previously known as Crescent Gold, ending with a 99.185% shareholding in the company.
The miner said on Tuesday that it would start issuing new Focus shares to Focus Laverton holders from April 26.
The company would also launch a compulsory acquisition of all the outstanding shares it had not yet acquired under the offer, with those shareholders receiving their consideration at the end of the compulsory acquisition period.
The enlarged Focus will have a targeted yearly production of 200 000 oz, from 2014, and a mineral resource base of 4.3-million ounces.
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