Base Resources' takeover of World Titanium Resources "unlikely"

• Autores: Kasia Patel
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 569, 2015 (Ejemplar dedicado a: Febrero)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Following the dispatch of Base's bidder's statement to WTR last week, the company's directors urged shareholders to reject the takeover offer, saying that it was uncertain, undervalued the company and represented significant risk for its shareholders.

    WTR directors drew attention to the project risks outlined by Base in its bidder's statement saying that they have "no reason to disagree with Base's assessment regarding its own circumstances, and in particular note the substantial debt levels that Base currently has with both secured banks and a substantial shareholder".

    Despite strong rutile and ilmenite production in Q4 2014, full year output for mineral sands producer Sierra Rutile fell short of the company's guidance owing to ongoing Ebola-related challenges.