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A hostile acquisition attempt aimed at junior explorer Lepidico has passed deadline with minimal acceptances and will not go ahead, the takeover target says.
Lepidico has formally rejected rival Lithium Australia's $23.8 million takeover bid, after an independent expert labelled the offer as neither fair nor reasonable.
Lithium Australia's $23.8 million takeover bid for rival Lepidico appears to be heading for rejection, with the target company not confident about the operational methods of Lithium's core asset.
Perth-based explorer Lithium Australia has lodged a takeover bid for rival lithium-focused Lepidico - in the middle of a Supreme Court battle between the two companies - in an all-scrip deal that values the target at $23.8 million.
Davenport Resources has launched a $5 million capital raising to support its plans to acquire a potash project majority owned by West Perth-based Potash West and list on the ASX.
Minerals explorer Potash West has secured $2.9 million as part of an oversubscribed 5 cent placement to fund development at its Dandaragan Trough projects near Perth and Kullestedt potash project i
Potash West has announced it will farm into a historic potash producing region of Germany under a joint venture agreement, with a right to earn 55 per cent if it funds early exploration activities in the South Harz potash district.
Potash West has received $3 million from Chinese backers to help fund a feasibility study for its Dandaragan Trough potash project in Western Australia.
Potash West shares jumped by 25 per cent on the Australian Securities Exchange today, after the Perth-based miner reported encouraging initial results from its latest drilling program in the Mid We