Conquest Mining has boosted its stake in North Queensland Metals to 32.76 per cent, moving the company closer to taking control of it takeover target.
Conquest Mining has boosted its stake in North Queensland Metals to 32.76 per cent, moving the company closer to taking control of it takeover target.
In a statement to the Australian Securities Exchange Conquest said Acorn, which held 11.04 per cent shares in NQM, has advised custodians to accept Conquests takeover offer.
Conquest said it had already received 9.03 per cent acceptance from Acorn.
With the remaining 2.01 per cent Conquest will hold a 34.77 per cent stake in NQM.
Last week, Conquest entered into a share purchase agreement with Heemskirk Consolidated.
The deal would see the company acquire 40 per cent of Heemskirk's interest in the Pajingo gold mine.
Conquest's takeover offer for NGM shares is scheduled to close on October 1.
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