Perseus Mining Limited’s Post

OreCorp Limited has announced a recommendation to accept the amended Perseus proposal following the lapse of the Silvercorp Metals Inc off-market takeover bid (Silvercorp Offer), as outlined in ASIC Form 604 released by Silvercorp today.   As one or more of the defeating conditions of the Silvercorp Offer were not waived or satisfied by the Closing Time (being 7pm (Sydney time) on 22 March 2024), the Silvercorp Offer has now lapsed and acceptances of this Offer have become void.   The OreCorp Board now unanimously recommends that OreCorp Shareholders ACCEPT the amended Perseus proposal, in the absence of a superior proposal. The OreCorp Board notes that no superior proposal has so far emerged.   OreCorp Directors, holding approximately 3.9% of the OreCorp shares intend to accept the amended Perseus proposal.   See the full announcement: https://bit.ly/4ctAsos

Perseus provides the following update in relation to its off-market takeover bid under Chapter 6 of the Corporations Act for all the current and to be issued ordinary shares in OreCorp Limited (ASX: ORR). Perseus confirms that: 1. It received Tanzanian Fair Competition Commission approval for its Offer on Friday, 15th March 2024. 2. Subject to recommendation of Perseus’s Offer as a Superior Proposal by the OreCorp Board, Perseus is willing to provide OreCorp an unsecured working capital debt funding package. 3. Perseus will not accept Silvercorp’s Offer regardless of whether Silvercorp satisfies its 50.1% minimum acceptance condition. 4. Perseus undertakes to waive all other Offer Conditions set out in the Bidder’s Statement within 3 Business Days of the 50.1% Minimum Acceptance Condition being satisfied unless it has publicly announced a breach or suspected breach before that time. Full ASX releases: https://loom.ly/d14VQ4Y & https://loom.ly/H8D9-u0

We advised Dyna-Mac Holdings Ltd. in the takeover offer by Hanwha Ocean SG Holdings Pte. Ltd. through a voluntary conditional cash offer at a consideration of S$0.67 per share. The target group is a multi-disciplinary specialist provider of detailed engineering, procurement and construction services to the offshore oil and gas, marine construction and other industries.    For more information, please read: https://lnkd.in/gk8pgRwF; https://lnkd.in/gMgY42_v   Partners, Chee Leong Lun and Liane Lim advised Dyna-Mac Holdings Ltd. on the transaction. #mergersandacquisitions #SGXprivatisations #takeovers #voluntarydelisting #conditionaloffer #CCCSclearance

Here is your Australian IPOs video update for the September 2024 Quarter in 30 seconds!

Bushveld receives another tenuous lifeline How does this sound? Your company is desperately short of cash. A white knight appears and offers you $21.3-million for a 50% stake in one of your assets. The white knight can’t come up with $12-million it has promised as part of a separate deal and after numerous delays cobbles together a loan, not cash. Meanwhile, the government is dragging its feet on approving the stock sale. You are down to almost your last million and now the white knight agrees to pay the $20.6-million it still owes you for the 50% stake plus a “deferred consideration’ of $15- to $20-million in return for 100% of your asset. The white knight has a lousy track record, but you say OK. This is the deal Bushveld Minerals has announced for the sale of Vanchem, one of its two vanadium operations in South Africa. Bushveld says it had no other choice. The sale is subject to shareholder approval, and shareholders are unlikely to be thrilled that Vanchem, not Vametco, is being put forward to attract cash. Bushveld overpaid for Vanchem in 2019, paying $53.5-million for a high-cost operation that was in receivership. Vametco had a horrendous first quarter, but it is a slightly lower-cost production facility that produces vanadium nitride, a value-added product. Bushveld announced that it had secured additional funding to provide immediate working capital relief and ensure continuity of operations at Vanchem and Vametco. Bushveld has agreed to sell 100% of Vanchem to Souhern Point Resources (SPR) for up to $40.6-million, with an initial consideration of $20.6-million and a deferred consideration of $15- to $20-million. This deal replaces the November 2023 agreement to sell 50% of Vanchem to SPR for $21.3-million. Because Bushveld is short of cash to pay creditors and continue operations, SPR has agreed to increase funding available through the interim working capital facility secured against Vanchem’s production. Bushveld received an initial advance of $3-million on May 3. SPR has agreed to advance a further $5-million on May 31 and a further $1-million on June 30, 2024. So, the initial payment for Vanchem of $20.6-million will consist of: $8.1-million working capital provided by SPR in September 2023, $9-million in additional working capital and $3.5-million on the closing of the Vanchem sale. Deferred consideration of between $15- to $20-million shall be paid by SPR to Bushveld using 25% of the distributable free cash flow of Vanchem for three years following the closing date of the Vanchem sale. The deferred consideration will be payable quarterly but subject of a minimum payment of $5-million per year paid as quarterly cash payments of $1.25-million amounting to a total nominal cash value of $15-million over the three years. The maximum payment will be $20-million. In additional to shareholder approval, Bushveld will need approval from the South African Competition Tribunal. BY ALICE AGOOS

#FWZ.v's CEO, Brandon Macdonald, joined Robert Sinn for a discussion on the company's exciting upcoming catalysts, and how to create value for shareholders. Read: https://hubs.li/Q02r-JTV0 #FWEDF #investing #criticalminerals

Vraj Iron And Steel Ltd launched its IPO today! To invest in this IPO, click the link in bio. #pennypal #ipoalert #vrajironandsteelipo #vrajironandsteellimited #steelsector #IPOupdate #ipoalert🚨 #sharemarket #trading #investors #investments #stockmarketnews #stockmarkettoday #ipoofficial

📢 #HawsonsIron is pleased to announce the successful completion of an approximately $2.25 million Placement via the issue of around 69 million shares at $0.033 per share. The Placement offer price of $0.033 per fully paid ordinary Hawsons share (the Offer Price), represents a 13.2% discount to the last traded price of Hawsons shares on 19 April 2024 of $0.038 per share, and a 27.4% discount to the 5-day volume-weighted average price (VWAP) per share up to the close of trade on 19 April 2024. 📈 Hawsons' Directors have committed $0.25 million to the Placement which is subject to shareholder approval. The Company anticipates holding a shareholder meeting in the first half of June to approve the issue of securities to the Directors. ASX Announcement: https://loom.ly/wFG28Xs #HIO #CapitalRaise #StrategicInvestment #Magnetite #IronOre #GreenSteel

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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