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Gold is the talk of the town this morning. The precious metal’s price has risen again to over $3000 dollars per ounce after the creation of the world’s largest gold producer.
Newcrest Mining (NCM) has given the green light to a $28.8 billion takeover offer from Newmont Corporation.
The parties have entered a binding scheme implementation deal which will see Newcrest shareholders receive 0.4 Newmont shares for each Newcrest share held, valuing shares at $29.27.
The deal marks the third largest globally this year. Newcrest was last trading at $28.63.
Still in the gold space, Toubani Resources (TRE) has appointed two senior mining executives to its board of directors, effective today.
Scott Perry and Mark Strizek have been welcomed by the company, bringing with them a proven track record of advancing development-stage assets.
The news comes in conjunction with the retirement of two Non-Executive Directors from the board. Toubani Resources was trading at 15 cents.
Reach Resources’ (RR1) shares have soared after striking high-grade results at its Yinnetharra lithium project in WA.
A reconnaissance rock chip sampling program returned assays of up to 2.3 per cent lithium oxide and more than 4200 parts per million caesium.
With reviewing and drilling next on Reach’s to-do list, CEO Jeremy Bower says “the future is within Reach”.
Reach Resources climbed 40 per cent, trading at 0.7 cents.
Almonty Industries’ (AII) share price has seen a boost. The company announced that plans are “well advanced” to reopen a former-producing mine in Spain, dubbed “Los Santos.”
The mine has been in planned maintenance since 2020, during which time the company has been undertaking studies to re-commence production.
Meanwhile, the company released its March quarter results, reporting revenue up 13 per cent from its first quarter. The company last traded at 73 cents.
To healthcare, Argenica Therapeutics (AGN) has reported all doses of its ARG-007 drug are safe and well tolerated.
The news comes after the company received a report on its final phase one clinical trial which aimed to reduce brain tissue death after brain injury.
Argenica is now working towards an application to the Human Research Ethics Committee for a phase two clinical trial in acute ischaemic stroke patients. Shares in AGN last traded at 42 cents.
To the gaming world and Aristocrat Leisure (ALL) is set to acquire global iLottery platform NeoGames for $1.8 billion.
At $29.50 US dollars per share, the transaction represents a roughly 105 per cent premium to the three-month volume weighted average price of NeoGames shares.
Aristocrat also announced it will increase its existing on-market share buyback program by a further $500 million, bringing it to up to $1.5 billion until the end of May 2024. Aristocrat was trading at $38.42.
