PERTH (miningweekly.com) – The shareholders of both ASX-listed Beadell Resources and its suitor Great Panther Silver have approved a takeover of Beadell.
Great Silver Panther in September last year launched a friendly $105-million takeover for gold miner Beadell, which owns the Tucano gold mine, in Brazil.
Under the terms of the transaction, Beadell shareholders will receive 0.0619 common shares of Great Panther for each ordinary share of Beadell, implying a consideration of A$0.086 a Beadell share.
The transaction remained subject to a number of other conditions, including court approvals, with the transaction likely to be implemented in March.
The merger is expected to create an emerging and growth-orientated precious metals producer focused on the Americas with a diverse asset portfolio, including three operating mines, and advanced-stage project, and significant exploration potential.