PERTH (miningweekly.com) – The remaining shareholders of takeover target New Century Resources will have their shares acquired by suitor Sibanye-Stillwater Resources on Tuesday.
Sibanye-Stillwater in February launched a A$1.10-a-share takeover offer for Australian zinc miner New Century Resources, in which it held an initial 19.9% interest, and at the end of March announced the compulsory acquisition of the remaining shares in the company.
All remaining shares in New Century that have not been validly accepted in the offer at the end of trade on Tuesday would now be acquired by Sibanye, with the acceptance facility closing on May 3.
New Century’s primary asset is its namesake zinc project in Queensland, where it is actively progressing life extension opportunities at Century and studying the potential to restart copper production at the historically significant Mt Lyell copper mine in Tasmania. New Century is also pursuing opportunities with industry peers to reprocess and rehabilitate contemporary and historical mineralised waste assets at operational and legacy mine sites.