PERTH (miningweekly.com) – Diversified miner BHP has again extended the expiry of its offer for TSX-V listed Noront Resources, as it continues to progress negotiations with shareholder Wyloo Metals.
BHP in October trumped Wyloo’s C$0.70-a-share cash offer for Noront, by offering C$0.75 a share for the Canadian nickel developer. Wyloo, which holds a 37.2% interest in Noront, is now considering accepting BHP’s offer.
“BHP and Wyloo Metals have continued their conversations and are considering a mutually beneficial arrangement regarding the acquisition of Noront by BHP. There is no assurance that any agreement will be reached between BHP and Wyloo Metals,” BHP said in a statement on Thursday.
The major’s offer for Noront has been extended from November 30 until December 14.