Australia's Mako Gold jumps on accepting Aurum's $11.3 mln takeover bid

Aurum Resources

18/11/2024 24:25

** Shares of Mako Gold  MKG.AX  rise 6.3% to A$0.017, set
for their best session since Oct. 23 - if current gains hold
    ** Mineral explorer says its directors accepted an all-stock
offer from Australia-based gold explorer Aurum Resources
 AUE.AX 
    ** Offer values co at about A$17.5 mln ($11.31 mln)
    ** Mako shareholders will receive 1 Aurum share for every
25.1 Mako shares, representing a premium of 10.8% to last close
    ** Aurum stock falls 4.5%, as of 0007 GMT
    ** MKG has gained 70% so far this year

($1 = 1.5473 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))