Saracen Mineral Holdings has made an all-scrip takeover offer for Fremantle-based gold explorer Bligh Resources, as it seeks to increase the resource for its Thunderbox operations.
Bligh Resources has recommended shareholders vote in favour of an improved takeover offer by Zeta Resources, having previously backed an acquisition proposal by Saracen Mineral Holdings for its Bundarra gold project.
Investment group Zeta Resources has announced plans to make an all-cash takeover offer for gold-focused Bligh Resources, competing with Saracen Mineral Holdings which had agreed to buy the target's core asset in February.
Cape Lambert Resources Limited has sold its royalty on the Mayoko iron ore project for $1 million cash subject to the formality of the new owners signing off on the transaction.
Saracen Mineral Holdings has entered into an agreement to purchase the Bundarra gold project from Bligh Resources in an all-scrip deal worth $8.5 million.
