https://www.miningweekly.com

MHM abandons merger plans

12th December 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The proposed merger between ASX-listed MHM Metals and Bermudan company Alliance Mining Commodities (AMC) has been called off, with the two companies remaining mute as to the reasons behind the decision.

MHM and AMC in November singed a merger term sheet, under which MHM would have acquired AMC by way of a scrip exchange, and subject to a number of conditions, including due diligence, and regulatory and shareholder approvals.

MHM had hoped that the merger with AMC would give the company access to the Koumbia bauxite project, in Guinea, where AMC has spent more than $40-million to date on exploration.

MHM told shareholders on Monday that the company would continue to advance a number of other potential opportunities previously identified, where its balance sheet can be applied to add value to the benefit of shareholders.

In the meantime, the company’s share trading on the ASX will remain suspended until a "suitable" new opportunity that meets the ASX listing rules can be identified.

Edited by Creamer Media Reporter

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.213 0.246s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: