Monarch, Tanami call off merger plans

A proposed merger between Monarch Gold Mining Company Ltd and Tanami Gold NL will not go ahead, after the two companies ceased further discussions this morning.

An announcement released by Monarch this morning said that both companies believed their interests were best served by focusing on developing their respective tenement packages, rather than looking to merge

The companies announced in late October that they were in talks to amalgamate, with Tanami placing 12.5 million shares in the Michael Kiernan-chaired Monarch to raise $2.5 million.