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Following an unsolicited takeover offer from PRM Services, Sierra Rutile has this morning, released an announcement to advise shareholders to Take No Action. Sierra Rutile’s Chairman Greg Martin commented: “We have formed the view that the Offer is opportunistic, inadequate and undervalues the Company, following the Board’s preliminary review of the unsolicited on-market takeover offer from PRM. PRM has opportunistically timed its Offer ahead of key value catalysts, such as the Sembehun DFS, and we do not believe it reflects Sierra Rutile’s significant strategic value as a major participant in the global mineral sands industry. However, the Board will continue to assess the on-market takeover further and issue an official Target’s Statement containing a formal recommendation from Sierra Rutile’s Directors in relation to the Offer. In the interim, the Sierra Rutile Board unanimously recommends shareholders continue to TAKE NO ACTION in relation to the Offer.” Read the full announcement here: https://lnkd.in/g6_trXmY #ASX #Africa #MineralSands #SierraLeone

Congratulations to Leonoil Company Limited (Leonoil) on the execution of a Bid Implementation Agreement with Sierra Rutile Limited (SRX), under which Leonoil will offer to acquire all of the issued and outstanding ordinary shares in SRX it does not already own under an off-market takeover bid. Leonoil currently holds 19.85% of SRX and is offering a cash consideration of A$0.18 per SRX Share that it does not already own. This Offer represents a 12.5% premium to the A$0.16 a share offer price of Gemcorp Commodities Assets Holdings Limited’s (Gemcorp) off-market takeover bid announced on 1 July 2024. Importantly, the Leonoil Offer is not subject to any minimum acceptance condition, compared to Gemcorp’s 51% minimum acceptance condition. Sternship is pleased to be acting as financial adviser to Leonoil, alongside Gilbert + Tobin who is acting as legal adviser to Leonoil.

Almonty Industries Inc is pleased to announce that in conjunction with its March 2024 Placement, the Company has closed a fourth tranche through the sale of the previously-announced firm commitment of 3,000,000 Placement Chess Depository Interests Units ("CDIs") at A$0.62 per unit. #Almonty is scheduled to close on an additional 1,090,909 common share units at Cdn$0.55 per unit on May 23, 2024. Further to this, in conjunction with the conversion in January 2024 by Dundee Resources Ltd. (“Dundee”) of its entire holdings of long-term debt plus related accrued interest with Almonty, at the conversion price of Cdn$0.90 per share, the Company issued approximately 10.25 million common shares to Dundee. Read the full market announcement for more details 👇 https://bit.ly/3yvt6Bf #Tungsten #MiningStocks #ASXNews #MiningNews #SangdongMine

How does the Matco Canadian Equity Income Fund aim to navigate market fluctuations? Anil Tahiliani, Senior Portfolio Manager at Matco Financial, explains more in our Q3 2024 fund update. #CanadianStocks #Investing #InvestmentStrategy #MatcoFinancial

It is a milestone day for us at Pacesetter! After an extensive and rigorous succession planning process, we have selected Flack Global Metals (FGM) as our strategic partner and entered into an agreement with FGM pursuant to which FGM will acquire a majority ownership stake in Pacesetter’s business. “FGM’s long-term view for investing was the first quality that really set them apart from the VC and PE firms who were interested in investing in us,” said Del Land, Pacesetter President. Steve Leebow, Pacesetter’s Founder & CEO added, “Of course, we knew FGM for its leadership in risk management and hedging within the industry. But once we dug deeper, we saw how much experience they have in M&A activities and integration and innovative operations management. We quickly understood how its expertise on the financial side and our prowess on the physical side could truly complement each other.” Read the full UPDATED release here: https://lnkd.in/et9VsgWJ The updated release now includes the following verbiage: "NSPS Metals LLC, Pacesetter’s joint venture with Nippon Steel Trading Americas, Inc., which is an affiliate of Nippon Steel, will not however be a party to the transaction, and its assets, including NSPS’s service center facility located in Houston, will not be assets covered by the resulting FGM-Pacesetter partnership." #Pacesetter #FlackGlobalMetals #Steel #Investment #HRC #Metals

Congratulations to Rektron Group Inc (CSE: REK.U) on closing the initial public offering #IPO for US$5 million and listing its common shares on the Canadian Securities Exchange (CSE). Research Capital acted as the sole agent and sole bookrunner for the IPO.   The proceeds from the offering will be used for scaling up Rektron’s trading activities and for working capital.   Rektron Group Inc. is the holding and parent company of Rektron AQ Limited, which is the holding and parent company of DL Hudson Limited. DL Hudson Limited is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global #commodity trading operations.   Rektron focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The trading expertise includes principal #energy and #metals products, particularly ferrous and nonferrous metals, Energy Transition Commodities, recycled metals and crude and Euro VI-compliant refined #oil products. Rektron Group Inc. transacts across all compliant markets following the international trade regulations and guidelines.   View the press release here: https://lnkd.in/eXUj_XNW   #trading #capitalmarkets #equity #stocks #investing #investmentbanking

#ASXNews Poseidon Nickel Limited advises that the closing date for its nonrenounceable entitlement offer made pursuant to a prospectus lodged with ASIC and released to #POS' ASX platform on 1 August 2024 (Prospectus) has been extended by one week to Tuesday 27 August 2024 to allow extra time for Eligible Shareholders to take up their entitlements, and to digest today’s announcement, “Gold Prospectivity enhanced at Black Swan and Lake Johnston”, dated 15 August 2024, as well as information that will be presented at the Investor webinar at 10am WST today. The Offer seeks to raise up to $3,713,535 (before costs). It provides the opportunity for Eligible Shareholders to subscribe for one (1) Share for every three (3) Shares held by Eligible Shareholders registered at the Record Date at an issue price of $0.003 per Share together with one (1) free New Option for every three (3) Shares applied for and issued. Each New Option will have an exercise price of $0.006 and a term of 2 years from the date of issue. See full announcement: https://loom.ly/CpGkl70 Register to today's webinar: https://loom.ly/NY0Ic0Y #PoseidonNickel #Gold #Lithium #Nickel

Øgreid AS acquires a majority stake in BON DEP AS following a sale process advised by Arctic Securities on the sell-side and by Wikborg Rein on the buy-side. The process was followed closely by NKP | M&A Insights since November 2023. Congratulations to all parties involved. #mergersandacquisitions #deals #privateequity #nordics #investmentbanking

After our latest earnings release, Alamos Gold’s COO, Luc Guimond, joined Josh Lipton on Yahoo Finance. Watch the video below as Luc discusses our key growth pipeline projects and shares insights on the trends within the current gold market. https://lnkd.in/eVGUX7fJ #Gold, #investing, #goldmining