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Xanadu Mines Ltd ( (AU:XAM) ) has issued an update.
Xanadu Mines Ltd has been the subject of a takeover bid by Bastion Mining Pty Ltd, which has acquired over 90% of Xanadu’s shares and issued a Notice of Compulsory Acquisition for the remaining shares. The takeover offer of A$0.08 per share represents a significant premium over Xanadu’s previous share price, and the Board has recommended shareholders accept the offer. This acquisition marks a pivotal step in Xanadu’s strategy to unlock value from the Kharmagtai project, positioning it as a future major copper producer in Mongolia.
More about Xanadu Mines Ltd
Xanadu Mines Ltd is a company operating in the mining industry, primarily focusing on the exploration and development of copper and gold projects. The company is significantly involved in the Kharmagtai Copper and Gold Project, which is a joint venture with Zijin Mining Group Co. Ltd, and is aimed at becoming a major copper producer in Mongolia.
Average Trading Volume: 7,918,498
Technical Sentiment Signal: Buy
Current Market Cap: A$183.3M
For detailed information about XAM stock, go to TipRanks’ Stock Analysis page.