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Venus Metals Corporation Limited ( (AU:VMC) ) has shared an announcement.
Venus Metals Corporation Limited has acknowledged an on-market takeover bid by QGold Pty Ltd for all its ordinary shares that QGold does not already own, at a price of $0.17 per share. The Venus board advises shareholders to take no action at this time, as the offer provides no premium over the last closing price of Venus shares. The board emphasizes that shareholders who sell now may miss out on any potential higher offers. The company highlights its strong asset portfolio, which includes significant holdings in Rox Resources and various mineral deposits, suggesting that these assets’ strategic importance will grow over time. QGold, holding a 26.40% voting power in Venus, has also shown interest in Rox Resources, indicating a strategic alignment in their investments.
More about Venus Metals Corporation Limited
Venus Metals Corporation Limited is a company in the mining industry, focusing on mineral exploration and development. Its primary assets include a 1% net smelter royalty over Rox Resources’ Youanmi Project, shares in Rox Resources Limited, and various mineral deposits such as the Bell Chambers gold deposit and the Youanmi Titanium-Vanadium-Iron deposit. The company is also involved in a joint venture with IGO on the Bridgetown Greenbushes Exploration Project.
Average Trading Volume: 250,694
Technical Sentiment Signal: Buy
Current Market Cap: A$33.34M
Find detailed analytics on VMC stock on TipRanks’ Stock Analysis page.