Panoramic Makes Hostile Bid for Magma

Reuters reported Panoramic Resources (ASX:PAN) has made a hostile bid of about $43 million for the shares it does not already own in Magma Metals (ASX:MMW,TSX:MMW).

As quoted in the market news:

Perth-based Panoramic, which also owns and operates copper and gold projects, is eyeing Magma’s platinum-palladium-copper-nickel Thunder Bay North Project in northwest Ontario, Canada.

Click here to read the full Reuters report.