Alto Metals to review Habrok takeover offer after Goldsea bid is set to lapse
Alto directors have advised that shareholders should TAKE NO ACTION in respect of the Habrok proposal until they receive further advice from the board.
Company
Alto Metals Ltd
ASX:AME
Alto Metals Ltd is an advanced gold explorer that owns the Sandstone Gold Project in the east Murchison of Western Australia. The Sandstone Gold Project covers ~740km 2 of the Sandstone Greenstone Belt and has an optimised, open-pit constrained mineral resource estimate (MRE) of 832,000 ounces of gold at 1.5g/t, capturing over 80% of the unconstrained total MRE of 1.05 million ounces.
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Alto Metals surges after fielding improved Goldsea takeover offer with price lifted to 7.5 cents
The new bid is a 15% improvement on the previous 6.5 cent offer and also exceeds the Habrok proposal of 6.6 cents.
Alto Metals lifts Lord Nelson gold resource by 60% to 109,000 ounces at 1.9 g/t
Lord Nelson deposit contributes 33% of the total resource at Sandstone Project and is still open in all directions, with further drilling planned to determine its full potential.
Alto Metals fields competing takeover proposal from Habrok
The Habrok offer at 6.6 cents per share will not be conditional on due diligence, financing, regulatory approval or further internal approvals.
Alto Metals directors unanimously recommend accepting Goldsea offer
The directors have reversed a previous decision after Goldsea Australia Mining submitted a more favourable supplementary bidder’s statement.
Alto Metals firms up Sandstone gold potential with more high-grade Lord Nelson results
The inferred resource estimate at Lord Nelson is 980,000 tonnes at 2.2 g/t gold for 68,000 ounces, which forms part of the global indicated and inferred mineral resource estimate for Sandstone of 290,000 ounces.
Alto Metals recommends shareholders reject Goldsea takeover offer
The company believes recent takeover actions are testament to the potential of its Sandstone Gold Project in Western Australia which has a JORC resource of 290,000 ounces grading 1.7 g/t gold.
Alto Metals high-grade gold hits highlight continuity of primary Lord Nelson mineralisation
The results confirm potential along the southern extension of the deposit and below the historic open pit.
Alto Metals' recent new shareholder builds stake
Alto's board is reviewing a takeover offer from Goldsea, who recently lodged a bidder’s statement.
Alto Metals board reaffirm to take no action while takeover offer is evaluated
Alto's board will review Goldsea’s bidder’s statement and will write to Goldsea seeking certain clarifications.
Alto Metals intersects wide gold zones beneath Lord Nelson pit at Sandstone Gold Project
Four metre composite assays have been received for the first three deeper RC holes targeting primary gold mineralisation, with gold intersected in every drill hole.
Alto Metals in trading halt pending exploration results and corporate update
The trading halt will remain in place until Friday March 13 or when an announcement is made – whichever occurs earliest.
Alto Metals new substantial shareholder increases stake
Alto recently received a takeover offer, which may explain why the new substantial shareholder has further increased its stake.
Alto Metals gains new substantial shareholder
Alto recently received a takeover offer, which may explain why this investor has emerged on the register
Alto Metals hits shallow, high-grade gold just 200 metres from historic Lord Nelson pit at Sandstone
The company's Sandstone Gold Project covers more than 800 square kilometres of the highly prospective and under-explored Sandstone Greenstone Belt in Western Australia.
Alto Metals in trading halt with exploration results announcement pending
The West Australian-based company is focused on gold exploration with its Sandstone Project covering 80% of the Archean Sandstone Goldfield around 600 kilometres north of Perth.
Alto Metals receives cash takeover offer, board recommends take no action
Alto's board considers the continued, unsolicited, interest a strong endorsement in the company and the Sandstone Gold Project.
Alto Metals confirms Middle Island takeover bid for Alto has lapsed
Alto's board of directors had earlier unanimously recommended that shareholders reject the unsolicited takeover offer by MID.
Alto Metals highlights Sandstone Gold Project exploration achievements at AGM
The company’s strategy for Sandstone is now more focused with a few specific target areas planned for the next stage of drilling.
Alto Metals identifies compelling drill targets to drive next gold exploration phase at Sandstone
Drilling is designed to focus on depth and strike extensions of shallow high-grade gold mineralisation at the historical Lord Nelson and Lord Henry pits.