07/08/2009 - 11:16

Iron Mountain plans bid for Aluminex

07/08/2009 - 11:16

Bookmark

Save articles for future reference.

One month after its failed bid for Terrain Minerals, Iron Mountain Mining plans to launch a takeover for Aluminex Resources, which delisted from the local stock exchange months after its float.

One month after its failed bid for Terrain Minerals, Iron Mountain Mining plans to launch a takeover for Aluminex Resources, which delisted from the local stock exchange months after its float.

In a statement, Iron Mountain said it will offer one of its shares for every four shares held in Aluminex.

Shares in Iron Mountain were untraded at 12.5 cents at 12:50 AEST.

Iron Mountain said it is in the process of preparing a formal bidders statement, which it will lodge with authorities shortly.

Aluminex, which holds a suite of tenements in WA and the NT prospective for bauxite, nickel, gold, base metals and uranium, listed on the ASX in September last year.

In November, Aluminex announced it would delist from the ASX after it found that it had not received cleared funds from its $2.5 million initial public offer.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options