PERTH (miningweekly.com) – ASX-listed Beacon Minerals has taken a 19.82% interest in fellow-listed Maximus Resources.
The company on Monday said that it would purchase some 63.2-million shares in Maximus from shareholder Pantoro for 4.2c each, representing a 7% premium to Maximus’ closing price on January 27.
Maximus currently holds 48 km2 of tenements in Western Australia’s Kambalda district and is developing several small, high-grade operations across the tenement.
Beacon for its part, owns the Juardi gold project, within the Coolgardie region, which produced 6 418 oz of gold in the December quarter.