Herald Resources

The largest shareholder in West Perth-based Herald Resources has announced plans to acquire the remaining shares of the WA company by way of a formal off-market takeover bid, subject to conditions and approval from the Foreign Investment Review Board (FIR

Herald Resources has stopped port and road construction activities due to a protracted delay in gaining forestry approval for its Dairi zinc-lead project in Indonesia.

The takeover bid for Herald Resources Ltd has drawn to an end with bidder PT Bumi Resources tbk allowing its $2.85 cash offer to lapse.

Directors of Herald Resources Ltd have recommended shareholders accept an increased takeover offer of $2.85 cash from PT Bumi Resources Tbk.

Herald Resources Ltd Directors have supported a revised $2.60 to $2.65 cash offer from Tango Mining Pte Ltd, which values the company at almost $524 million.

Chinese-Indonesia consortium Antam Zhongjin has gained shareholder approval for its $2.50 a share, $505 million take over bid for West Perth-based Herald Resources.

Base metals miner Herald Resources this month became the latest of many Western Australian mining companies to be the target of a takeover offer, as big international groups seek to secure access to resources.