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An update from Xanadu Mines Ltd ( (AU:XAM) ) is now available.
Xanadu Mines Ltd has announced that Bastion Mining Pte. Ltd. has acquired a 92.12% stake in the company, allowing Bastion to initiate a compulsory acquisition of the remaining shares. Shareholders have until August 5, 2025, to accept the offer voluntarily, after which Bastion will complete the acquisition process. Consequently, Xanadu’s shares will be suspended from the ASX and removed from the official list by August 6, 2025. This acquisition marks a significant transition for Xanadu, impacting its market presence and shareholder dynamics.
More about Xanadu Mines Ltd
Xanadu Mines Ltd is an exploration company listed on the ASX and TSX, operating primarily in Mongolia. The company focuses on large-scale copper-gold discoveries and low-cost inventory growth, with a notable project being the Kharmagtai copper-gold deposit, which is managed in partnership with Zijin Mining Group.
Average Trading Volume: 7,918,498
Technical Sentiment Signal: Buy
Current Market Cap: A$183.3M
For a thorough assessment of XAM stock, go to TipRanks’ Stock Analysis page.