Perpetual bids for NSW gold assets

摘要

One of this year's few successful floats, Perpetual Resources, has lodged a friendly all-scrip takeover offer for explorer Neo Resources. In the absence of a superior offer Neo's board has recommended the offer that values the company at about $2.8 million, and says its directors will vote in favour of the offer. Perpetual says it has the cash on hand to fund not only its Atoz coal project in Indonesia but all of Neo's responsibilities in New South Wales without raising any equity in the short term.