Shanta Gold Limited (AIM:SHG, OTC:SAAGF) has issued some more information about the three bid approaches it revealed on Tuesday.
Any offer from Yintai will be solely in cash, said the East Africa-focused gold miner after it held further discussions with the Chinese group.
READ: Shanta Gold mulls three takeover approaches
No details about the structure of the approaches from Shandong Gold, another Chinese group, and one from UK-listed Chaarat Gold were forthcoming
Shanta said it had released the statement without the consent of Shandong, Yintai or Chaarat.
Under takeover panel rules, the three groups have until November 15, 2022, to decide whether to make a formal offer.