Thursday, 28 March, 2013 - 09:53
Troy Resources makes $188m offer for Azimuth
Gold miner Troy Resources has made an all-scrip off-market takeover bid for Azimuth Resources, valuing the target at $188 million.
Mr Dix’s background was in economics, law and taxation and he was a Barrister and Solicitor in the High Court of Australia. He worked for 16 years in Corporate Advisory at both Macquarie Bank Limited and UBS AG specialising in the mining industry, including Head of Resources for Asia Pacific and in London as Head of Mining. Mr Dix passed away on Feb 2, 2016.
Gold miner Troy Resources has made an all-scrip off-market takeover bid for Azimuth Resources, valuing the target at $188 million.
Troy Resources will tap the market for about $38 million through a placement and share purchase plan to fund development at its West Omai gold project in Guyana.
After seven years at the helm of Troy Resources, managing director Paul Benson is leaving the company today following his announcement in late April.
Gold miner Troy Resources has flagged a net loss of $59.1 million on the back of a $61.2 million asset impairment of its Karouni gold project in Guyana.
Gold Miner Troy Resources has appointed former Singapore-based Sakari Resources head Martin Purvis as its new chief executive officer, after managing director Paul Benson left the company in July.
Colleagues have paid tribute to Troy Resources chairman and Aquarius Platinum director David Dix, who passed away overnight.
Position | Company | Year | Company's current rank |
---|---|---|---|
Non-Executive Director
|
2004 - 2016 | ||
Chair, Interim Chief Executive
|
2010 - 2016 |
Company | Date | Transaction type | Number of shares | Price per share | Transaction value | Nature of change |
---|---|---|---|---|---|---|
2016-01-29 | Bought | 1,000,000 | $0.20 | $200,000 | Placement | |
2016-01-06 | Issued | 33,703 | $0.17 | $5,625 | Other | |
2015-10-09 | Issued | 51,830 | $0.11 | $5,624 | Other | |
2015-07-01 | Issued | 45,928 | $0.12 | $5,626 | Other | |
2015-06-09 | Bought | 625,000 | $0.40 | $250,000 | Placement |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Troy Resources | Asset acquisition | >> | |||
Troy Resources | Azimuth Resources | Takeover | $188.00m | >> | |
Zimbabwe indigenous parties | Aquarius Platinum | Asset acquisition | $550.00m | >> | |
Southern Cross Goldfields | Troy Resources | Asset acquisition | $5.00m | >> |