07/04/2017 - 13:31

RNI receives acquisition bids

07/04/2017 - 13:31

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Minerals explorer RNI says it has received competing proposals from credible parties for both its assets and the business as a whole.

RNI receives acquisition bids
Details of the transaction proposals were not disclosed.

Minerals explorer RNI says it has received competing proposals from credible parties for both its assets and the business as a whole.

Perth-based RNI said in a statement that it was in the process of considering the merits of the proposals, but could not assure the market that a transaction would eventuate.

The details of the transactions, or the parties involved, were not disclosed.

“The board has retained Longreach Capital and Steinepreis Paganin to assist in the process and advise on other strategic alternatives that may be available,” it said.

“As advised previously, the company continues to plan its diamond drilling program at the Wodger prospect, with the permit of works approval from the Department of Mines pending.”

RNI shares were 11.5 per cent higher to 7.7 cents each at 1:30pm.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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