Australian Royalties

Mt Gibson Iron Ltd has claimed an equity deal struck by target Aztec Resources Ltd today with Australian Royalties Corporation Pty Ltd could actually make its takeover easier because the agreement was below the bid price.

Aztec Resources Ltd requested its shares be suspended from trade today, ahead of confirmation that rights negotiations with Australian Royalties Corporation Pty Ltd were positive.

A new complication in the long-running Mt Gibson Iron Ltd bid for Aztec Resources Ltd has emerged with the target revealing it is in senstive negotiations with another party which could result in a defeating condition in the takeover being triggered.