Mount Gibson to acquire Aztec with 90.06% acceptance

West Perth-based Mount Gibson Iron Ltd will compulsorily acquire Aztec Resoruces Ltd after receiving 90.06 per cent of shares in its takeover target.

The full text of a company announcement is pasted below

Takeover bid by Mount Gibson Iron Limited for Aztec Resources Limited 90.06% acceptance achieved

Mount Gibson Iron Ltd advises that it has now received acceptances under its takeover bid for Aztec Resources Ltd for 90.06 per cent of Aztec's fully paid ordinary shares.

As the applicable thresholds have been reached, Mount Gibson will be commencing the compulsory acquisition process to acquire all the remaining fully paid ordinary shares in Aztec which it does not already own.

The board of Mount Gibson is pleased with the success of the takeover and is looking forward to moving ahead with the integration of the Aztec business.

The takeover is scheduled to close at 5.00pm (Perth, Western Australia time) on 22 December 2006 and will not be extended beyond that date.