Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) intends to make an off-market takeover for all of the issued shares in fellow African-focused gold company OreCorp Ltd that it does not already own for cash consideration of A$0.55 per share.
This offer to OreCorp’s shareholders is valued at a 4.0% premium to the currently implied value of a takeover offer made by Silvercorp Metals Inc (TSX:SVM, AMEX:SVM), as announced to the ASX on December 17, 2023, and as amended on January 16, 2024.
The Perseus offer implies a total OreCorp equity value of approximately A$258 million.
Pre-development gold project
OreCorp is an emerging mineral development company listed on the ASX with its key project being the pre-development Nyanzaga Gold Project in northwest Tanzania for which a Special Mining Licence (SML) was granted on December 13, 2021, with results of a definitive feasibility study released in August 2022.
Unlike the Silvercorp…
