Shanta’s shares rise on possible buyout offers
Aim-listed Shanta Gold’s share price on the LSE rose by nearly 20% on Tuesday after it confirmed that it had received approaches from Shandong Gold, Yintai Gold and Chaarat Gold, which may or may not result in an offer for the company.
Shanta said that while discussions were continuing with each party, there could be no certainty that an offer would be made.
Shanta, which owns the New Luika gold mine, in Tanzania, and the West Kenya project, in Kenya, advised its shareholders to take no action at this time.
In a separate statement, Chaarat also confirmed that it was in early-stage discussions regarding a possible offer for Shanta.
“There can be no certainty that an offer will be made, nor as to the terms of any such offer. A further statement will be made as appropriate,” Chaarat said.
Chaarat’s share price on the LSE rose by more than 10% on Tuesday.
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