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Gold|PROJECT
Gold|PROJECT
gold|project

Semafo extends Orbis offer

9th January 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Canada’s Semafo has extended the period for its takeover offer of ASX-listed Orbis Gold until February 6.

Semafo was offering Orbis shareholders 65c a share in cash for their shareholding in the Australian gold developer. However, the offer has gained little traction with Orbis shareholders, with Semafo currently holding just over 1% of the issued shares of Orbis.

At the start of December last year, Orbis shareholders backed the Australian company’s plan to raise A$20-million through a non-renounceable rights issue, to advance the Natougou gold project, in Burkina Faso.

The raising was a point of contention in the Semafo offer.

Edited by Creamer Media Reporter

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