Latest news with #DundeePreciousMetals
Yahoo
26-05-2025
- Business
- Yahoo
Rule 8 Announcement to Shareholders
Dundee Precious Metals Notice to Shareholders Regarding UK Disclosure Requirements TORONTO, May 26, 2025 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX:DPM) ('DPM' or the 'Company') wishes to direct the attention of its shareholders to certain disclosure requirements applicable to the possible offer by DPM for Adriatic Metals plc ('Adriatic') which was announced on 20 May 2025 (the 'Possible Offer'). DPM's shares are admitted to trading on the Toronto Stock Exchange under the symbol 'DPM'. The relevant disclosure requirements applicable to the Possible Offer are set out in Rule 8 of the UK City Code on Takeovers and Mergers (the 'Code'), which is published and administered by the UK Takeover Panel (the 'Takeover Panel'). In particular, Rule 8.3 of the Code requires that any person who is interested (directly and indirectly) in 1% or more of any class of relevant security of any party to the Possible Offer must make (a) an Opening Position Disclosure and (b) a Dealing Disclosure if they deal in any relevant security of any party to the Possible Offer during an offer period. DPM's common shares are relevant securities for the purposes of this offer period. Further information about the Takeover Panel's disclosure regime is available at: If any DPM shareholder has any questions on these disclosure requirements, the Takeover Panel's Market Surveillance Unit will be happy to answer them and should be contacted on +44 (0) 20 7638 0129. About Dundee Precious Metals Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM's shares are traded on the Toronto Stock Exchange (symbol: DPM). For further information please contact: Jennifer CameronDirector, Investor RelationsTel: (416) 219-6177jcameron@ in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Correction: Invesco Ltd: Form 8.3 - Adriatic Metals plc.; Opening Position disclosure
FORM 8.3 CORRECTION: PUBLIC OPENING POSITION DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE *An amendment has been made to the reported holding figure in section 2 (a)* Rule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: Invesco Ltd. (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Adriatic Metals plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 20.05.2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A' Yes; Dundee Precious Metals Inc. 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: GBP 1p ordinary GB00BL0L5G04 Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 1,411,614 0.40 (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 1,411,614 0.40 All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit AUD Depository Receipt AU0000004772 Sale 200,000 3.72 AUD (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none' (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NODate of disclosure: 21.05.2025 Contact name: Philippa Holmes Telephone number*: +441491417447 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit. The Code can be viewed on the Panel's website at
News.com.au
21-05-2025
- Business
- News.com.au
Resources Top 5: Buxton plans drilling in quest to conquer Centurion IOCG project
Plans are in hand for Buxton Resources' maiden drilling at the Centurion IOCG project Adriatic Metals is in the sights of TSX-listed precious metals giant Dundee Precious Metals Broad high-grade copper hits continue to roll in for White Cliff Minerals at the Rae project in Canada Your standout resources stocks for Wednesday, May 21, 2025 Buxton Resources (ASX:BUX) Buxton Resources is taking steps to conquer the Centurion iron-oxide copper-gold project in Western Australia with planning in hand for its maiden drilling. Investors have welcomed the initiative with shares 22.9% higher to 4.3c. An important step on the path to drilling has been the awarding of contracts for earthworks and drilling services to JB Contracting and DDH1 Drilling respectively. The program at Centurion in the underexplored West Arunta region will test a large-scale geophysical anomaly defined by coincident magnetic and gravity anomalies – a characteristic often associated with major IOCG systems like Olympic Dam and Carrapateena in South Australia. An initial 1000m hole will test this anomaly with provisions for immediate follow-up 'daughter' holes to assess the gravity and magnetic features from the 'parent' hole. This approach optimises the initial exploration phase and allows for rapid evaluation of the target. Drilling costs will be partially offset by a Western Australia Government EIS co-funding grant of up to $220,000. Earthworks are expected to start in June 2025 with drilling to start shortly after, subject to conducive weather. JB Contracting and DDH1 Drilling have existing operations in the West Arunta region, offering additional cost benefits and operational synergies. "The imminent maiden Centurion drilling program represents a significant step in unlocking the potential of this substantial IOCG target,' chief executive officer Marty Moloney said. 'We are therefore delighted to partner with highly reputable and experienced contractors, JB Contracting and DDH1 Drilling, for this pivotal campaign. 'Their established presence and operational experience in the West Arunta region provide cost efficiencies and the invaluable leverage of their local knowledge." IOCG deposits are large, simple-to-process concentrations of copper, gold and other economic minerals. They have the potential to be company makers thanks to their enormous sizes with Olympic Dam in South Australia being the third largest copper equivalent deposit and third largest gold deposit in the world. Adriatic Metals (ASX:ADT) The ASX's largest pure play silver exposure, Adriatic Metals, was up big in early trade courtesy of news that TSX-listed precious metals giant Dundee Precious Metals wants to swallow up the emerging European miner via a takeover. Banking sources told Sky News over in the UK the deal could clock in at £700 million, around $1.46bn Aussie, with its market cap now in the order of $956m. Adriatic confirmed early stage talks this morning. It owns the Vares mine in Bosnia, expected to produce 12-13Moz of silver equivalent metal this year. It's delivered 2.2Moz AgEq this year, which includes licks of zinc, lead, copper and gold, up from 1.3Moz across full year 2024 when the mine was opened. The deal could take another miner off the unloved London exchange, the focus of scrutiny from large investors who say capital and, by proxy, value is abandoning Paternoster Square. But more broadly the promise of a cash deal from a major player is exciting market watchers. There's the premium implied for Adriatic shareholders themselves, clearly behind today's ~24% rise, which would enable them to realise value for a project that fell prey to the ramp-up curse last year as ADT was forced into an equity raise and saw old boss Paul Cronin step aside for current MD and former BHP CTO Laura Tyler. Then there are the broader implications, Lion Selection Group recently updated its mining clock to 5 O'Clock, a time when cash takeovers become common as cashed up producers feed on unloved juniors to fuel their growth when prices turn. We're not there yet, but 6 O'Clock is when bust starts to give way to boom. It's not the only bottom-of-the-cycle deal we've seen in recent times. Rio Tinto (ASX:RIO) paid $10bn cash for lithium producer Allkem in the summer and just announced a deal with Codelco to study its Maricunga lithium assets in Chile. Xanadu Mines (ASX:XAM) is the subject of an agreed 8c per share cash offer from a consortium of Singapore-based Boroo (owner of the formerly Barrick stewarded Lagunas Norte gold mine in Peru) and Xanadu director Ganbayar Lkhagvasuren. XAM owns the Kharmagtai copper project in Mongolia, with the $160m cash offer (at a 57% premium to XAM's pre-bid price) a potential fishhook for long-time admirer Zijin to stump up and make it a competitive process. White Cliff Minerals (ASX:WCN) The broad high-grade copper hits continue to roll in for White Cliff Minerals at the Rae project in Nunavut, Canada, with the Danvers prospect delivering 90m at 4% copper from surface and shares reached 3.4c, a 9.7% increase on the previous close. Within the 90m in Hole DAN25005 was 18m at 6.5% copper and 11.4g/t silver from 26m, a high-grade core zone of 1.52m at 19.45% Cu and 34.1g/t Ag from 30m, and a further 14m at 7.7% Cu and 16.2g/t Ag from 61m. The hole was drilled towards the southeast and perpendicular to the strike of the copper-rich breccias, with the aim of testing the thickness of the mineralisation. White Cliff Minerals (ASX:WCN) notes the latest assays confirm the continuation of high-grade mineralisation observed in hole DAN25003/004 to the southwest and DAN25001/002 to the northeast. 'Danvers continues to just get better and better with each assay we receive,' WCN managing director Troy Whittaker said. 'Not only are these high-grade results, once again, from surface but we have now dialled in on high-grade zones.' Whittaker said the company was confident of a material maiden exploration target being delivered at Danvers following completion of the next round of drilling. 'We now know, as we had hoped, that Danvers has what appears to be an extensive high-grade core which should add tremendously to overall economics,' he explained. 'This hole, like Hole 8, carries huge significance. Hole 8 was designed to test the depth of mineralisation with the last metre ending in 4% copper and Hole 5 designed to test the width. 'These two holes alone confirm significant continuity and grade across a large copper-rich breccia vein that at a 3-4% average starts to put real substance into not just Danvers but all other vein hoisted breccias on our ground.' Peak Minerals (ASX:PUA) A four-year high of 2.1c was reached by Peak Minerals, an increase of 31.3% on the previous close, after heavy minerals (HM) were intersected across a strike length of 28km at the Minta rutile project in Cameroon. The results of up to 3.1m at 8.4% HM, 6.8m at 2.8%, 3.5m at 5.0% and 6.3m at 2.4% from an additional 29 holes of reconnaissance exploration auger drilling confirm the project's significant scale. All holes hit HM mineralisation from surface with an average depth of 3.9m and ending in mineralisation at auger refusal. The initial intercepts are adjacent to the discovery hole of 4m at 1.57% HM which included 4m at 1.05% rutile. 'This second batch of results from the drilling program at the Minta Rutile Project in Cameroon continues to confirm the extensive scale and consistency of heavy mineral mineralisation across the project area,' Peak Minerals CEO Casper Adson said. 'These latest results, covering 29 holes adjacent to the discovery holes, 28km across strike and up to 35km from the first reported drilling result location, indicate significant heavy mineral intersections in every hole. 'With the Minta Project spanning over 7,000km2 and this initial drilling phase covering approximately 50% of the total project area, these findings underscore the substantial potential of this emerging rutile province. 'These results reinforce the scale of the Minta Project, underscoring its potential as a significant new source of rutile and potentially a globally significant rutile province, we look forward to reporting further results as they become available.' Oceana Lithium (ASX:OCN) Firm commitments have been received by Oceana Lithium for a placement to raise $667,000, before costs, with shares hitting a new 12-month high of 5.7c, a lift of 72.8%. Strong bids were received for the placement at $0.023 per share, with support from new and existing institutional and sophisticated shareholders. The price was a ~30% discount to the company's last closing price of $0.033 and a ~21% discount to the 15-day VWAP. OCN has welcomed a number of new Australian high net worth/family office investors to the register. Proceeds will be used to progress the company's projects in Australia and Brazil, for working capital and to identify and assess new complementary project opportunities. Non-executive chairman Martin Helean agreed to participate for $10,800 in the placement on the same terms as other participants but subject to shareholder approval. 'Securing additional funds ensures Oceana is well placed to progress the company's existing assets in Brazil and Australia, as well as continue to assess new project opportunities," Helean said.
Reuters
20-05-2025
- Business
- Reuters
UK's Adriatic Metals in takeover talks with Dundee Precious Metals
May 20 (Reuters) - UK's Adriatic Metals (ADT1.L), opens new tab said on Tuesday it was in talks with Canadian peer Dundee Precious Metals ( opens new tab regarding a possible takeover. Sky News, which first reported about the potential talks earlier in the day, said a deal could value the British firm at about 700 million pounds ($935.3 million), citing bankers. Adriatic Metals said it has provided Dundee access to limited due diligence information. Dundee is required to provide a firm offer or walk away from the talks by June 17, under the UK takeover rules. ($1 = 0.7484 pounds)
Sky News
20-05-2025
- Business
- Sky News
London-listed miner Adriatic Metals in £700m takeover talks
Adriatic Metals, a precious metals mining group, is in the early stages of takeover talks which could lead to it becoming the latest London-listed company to succumb to an overseas bidder. Sky News understands that Adriatic Metals is in the very early stages of discussions with Dundee Precious Metals, a Toronto-listed peer. The status of the talks and other key details, including any offer price under negotiation, were unclear on Tuesday. One person close to the situation said it was unclear whether any formal offer would emerge. Valued at about £610m, Adriatic has a market capitalisation roughly one-third of that of Dundee, which has a presence in the Balkans. With a conventional takeover premium factored in, any offer could value the target at well over £700m, according to bankers. Adriatic produces copper, gold, lead, silver and zinc from recently developed mining operations in Bosnia and Herzegovina. The company is run by chief executive Laura Tyler, a former senior BHP executive who is among few female bosses in the global mining industry. London-listed shares in Adriatic Metals were nearly 6% higher in Tuesday afternoon trading amid growing bid speculation. The two companies were rumoured to have held similar talks as recently as last year, although they did not progress to any form of public confirmation.
