24/11/2010 - 13:00

Conquest completes NQM takeover

24/11/2010 - 13:00

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Conquest Mining has completed its $58 million takeover of North Queensland Metals, with the compulsory acquisition of the remaining NQM shares yesterday.

Conquest completes NQM takeover

Conquest Mining has completed its $58 million takeover of North Queensland Metals, with the compulsory acquisition of the remaining NQM shares yesterday.

In a statement to the Australian Securities Exchange Conquest said NQM will be removed from the official ASX list shortly.

Conquest launched the takeover in June offering NQM shareholders 0.5 of a Conquest share plus 10 cents cash for every North Queensland Metals share held, valuing the company at about 29 cents per share.

NQM owns 60 per cent of the highly prospective Pajingo mine in Queensland,

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