Perth-based Volta Mining, headed by former DMC Mining founder and managing director David Sumich, is venturing into central West Africa with the acquisition of its first iron ore project.
Cape Lambert Resources has lifted its takeover offer for DMC Mining to the same level as the endorsed offer from Meijin Energy Group while the target ups the ante, saying that other parties could make rival offers.
Shares in DMC Mining have risen after the junior iron ore explorer today received a better takeover offer for its shares compared to the $34 million offer from Cape Lambert Resources.
Cape Lambert Resources has revealed plans to take full control of DMC Mining, launching a $34 million cash offer today for the explorer which controls an iron ore project in the Republic of Congo.
A study into West Perth-based DMC Mining Ltd's Maroko iron ore project in the Republic of Congo has revealed potential revenue earnings of $US1.1 billion ($A1.2 billion) based on a 11 million tonne per annum operation.
23 Jun 2008
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