PERTH (miningweekly.com) – Gold miner Northern Star has declared its 33c a share cash takeover offer for Echo Resources to be unconditional.
Northern Star in August launched the A$242.6-million offer for Echo, which olds the Yandal gold project, in Western Australia.
The gold miner currently holds a 21.99% interest in Echo, with the takeover target’s independent directors unanimously recommending that shareholders accept the offer.
The takeover offer is currently scheduled to close on October 14.
Northern Star has previously told shareholders that the acquisition of Echo would allow the company to consolidate the mineralisation at the Yandal gold project for further evaluation on both an exploration and development basis, l also providing Northern Star with the ability to process gold at the Bronzewing processing plant, if an evaluation of a restart is successful.