
[miningmx.com] – GOLIATH Gold, an exploration company listed in Johannesburg, said it had received notice of a proposed cash bid by 72% shareholder, Gold One, for the shares in the firm it doesn’t already own.
In terms of the offer, Goliath shareholders can receive an immediate R1/share cash offer, equal to a total payout of R41.2m if all shareholders accept, or a deferred cash bid of R1.60/share, equal to R66m. Goliath is current trading at R1.50/share.
The proposed bid is subject to the support of the Chinese regulatory authorities which is expected to be received in August. Gold One is controlled by Gold One International.