Polaris

IN terms of shareholder gains, Polaris Metals stakeholders will be content with how the past 12 months unfolded.

Shares in explorer Polaris Metals have risen as a takeover battle for the iron ore miner heats up with Lion Asia-Resources sweetening its cash offer.

Takeover target Polaris Metals has recommended a sweetened offer from Bibra Lake-based Mineral Resources, which has introduced a cash component.

Takeover target Polaris Metals says there could be another takeover offer in the wings as first bidder Minerals Resources lifts its interest to 22.3 per cent.

Directors of Polaris Metals have recommended its shareholders accept an off-market takeover bid worth up to $67 million from mining services outfit, Mineral Resources, subject to an independent expert assessment and in the absence of a superior offer.

Orbital Corporation today announced a new license agreement with US company Polaris Industries for its air assisted direct injection technology.