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Mining Weekly reported that after failing to secure adequate shareholder support in February, Canada’s Askanko Gold (TSX:AKG,NYSE:AKG) on Tuesday launched a second takeover bid for PMI Gold (ASX:PVM,TSX:PMV), aimed at creating a mid-tier West Africa-focused gold miner.
Mining Weekly reported that after failing to secure adequate shareholder support in February, Canada’s Askanko Gold (TSX:AKG,NYSE:AKG) on Tuesday launched a second takeover bid for PMI Gold (ASX:PVM,TSX:PMV), aimed at creating a mid-tier West Africa-focused gold miner.
As quoted in the market news:
The two companies announced in a joint statement that they had entered into a definitive agreement whereby Asanko (NYSE:AKG,TSX:AKG) would acquire all the common shares of PMI, thereby creating a clear pathway to 400 000 oz/y of gold output.