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Alkane Resources — M&A Activity 2018
Dec 17, 2018
48579_rns_2018-12-17_f25de995-1db4-48a6-89ee-1be56a53440a.pdf
M&A Activity
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ASX and MEDIA RELEASE
18 December 2018
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Explaurum Agreement Terminated
Alkane Resources Limited has been advised by the directors of Explaurum Limited (ASX:EXU) that they have recommended that their shareholders accept the takeover offer by Ramelius Resources Limited (ASX:RMS).
Under the Share Subscription Agreement between Alkane and Explaurum (refer ASX Announcement 29 October 2018) this is recommending a Competing Proposal. In accordance with its rights under the Share Subscription Agreement, Alkane has given notice of termination and requested the $800,000 deposit be refunded and the $400,000 break fee paid.
ABOUT ALKANE - www.alkane.com.au - ASX: ALK and OTCQX: ANLKY
Alkane is a multi-commodity company mainly focused in the Central West region of NSW, Australia. Currently Alkane has two advanced projects - the Tomingley Gold Operations (TGO) and the nearby Dubbo Project (DP). Tomingley commenced production early 2014. Cash flow from TGO has provided the funding to maintain the project development pipeline and has assisted with the pre-construction development of the DP.
The DP is a large in-ground resource of zirconium, hafnium, niobium, yttrium and rare earth elements. As it is an advanced poly-metallic project outside China, it is a potential strategic and independent supply of critical minerals for a range of sustainable technologies and future industries. It has a potential mine life of 75+ years. The DP is development ready, subject to financing, with the mineral deposit and surrounding land acquired and all major State and Federal approvals in place.
Alkane’s most advanced gold copper exploration projects are at the 100% Alkane owned Bodangora, Wellington, Rockley and Elsienora prospects. Wellington has a small copper-gold deposit which can be expanded, while at Bodangora a large monzonite intrusive complex has been identified with porphyry style gold copper mineralisation. Gold and base metal mineralisation has been identified at Rockley and Elsienora.
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CONTACT : NIC EARNER, MANAGING DIRECTOR, ALKANE RESOURCES LTD, TEL +61 8 9227 5677 INVESTORS : NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556 MEDIA : HILL+KNOWLTON STRATEGIES: MARCHA VAN DEN HEUVEL, TEL +61 2 9286 1226 OR +61 468 960 457
Ground Floor, 89 Burswood Road, Burswood WA 6100, AUSTRALIA (PO Box 4384, Victoria Park WA 6979, AUSTRALIA) Telephone: +61 8 9227 5677 Facsimile: +61 8 9227 8178 www.alkane.com.au [email protected]