MetalsTech receives offer from Trans Metal to acquire Sturec gold mine

The Market Herald01-15

MetalsTech (ASX:MTC) receives a preliminary non-binding proposal from Toronto-based private equity fund Trans Metal Fund The offer is to acquire all shares in Ortac Resources, a subsidiary of ...

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The offer is to acquire all shares in Ortac Resources, a subsidiary of MetalsTech, which owns the Sturec gold project in Slovakia. TMF, managing approximately US$500 million in total assets, has a track record of overseeing two large-scale operating polymetallic mines. TMF’s offer includes an upfront cash payment of US$36 million  and an additional US$20 million upon obtaining a mining permit. As part of the deal, MetalsTech will retain a two per cent gross overriding royalty, convertible to a lump sum of US$25 million.The total offer stands at US$81 million  or 63.9 cents per share.Post-closing, TMF is committed to securing permits and conducting studies, with MTC providing the necessary support.MTC shares were up 4.17 per cent, trading at 25 cents at 12:42 pm AEDT.","collect":0,"end_time":0,"defaultTopTitle":"themarketherald.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"MTC.AU":"METALSTECH LTD","BK7095":"多种金属与采矿","BK7504":"锂钴概念","TMF":"3倍做多20年期以上国债ETF-Direxion"},"translate_title":"MetalsTech收到Trans Metal收购Sturec金矿的报价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTC.AU":1,"TMF":1},"content_text":"MetalsTech (ASX:MTC) receives a preliminary non-binding proposal from Toronto-based private equity fund Trans Metal Fund\nThe offer is to acquire all shares in Ortac Resources, a subsidiary of MetalsTech, which owns the Sturec gold project in Slovakia\nThe total offer stands at US$81 million\nTMF, managing approximately US$500 million in total assets, has a track record of overseeing two large-scale operating polymetallic mines\nMTC shares are up 4.17 per cent, trading at 25 cents at 12:42 pm AEDT\n\nMetalsTech (ASX:MTC) has received a preliminary non-binding proposal from Toronto-based private equity fund Trans Metal Fund (TMF) to acquire all shares in Ortac Resources, a subsidiary of MetalsTech, which owns the Sturec Gold project.\nTMF’s offer includes an upfront cash payment of US$36 million (A$54 million) and an additional US$20 million upon obtaining a mining permit. 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