Australia's Theta Gold at over 2-year low as Focus Minerals deal falls through

Focus Minerals

07/01/2022 02:42

** Shares of Theta Gold Mines  TGM.AX  slip as much as 9.4%
to A$0.145 after Focus Minerals  FML.AX  says the gold miner
will not be able to acquire control of FML 
    ** FML says its largest shareholder Shandong Gold
International Mining Corp Ltd, which holds a 63.18% stake in it,
intends to reject the takeover offer by TGM in its current form 
 urn:newsml:reuters.com:*:nASX14NGbx 
    ** On Jan 5, FML had announced TGM's off-market takeover bid
for it, by issuing two new TGM shares for every FML share, and
some other conditions  urn:newsml:reuters.com:*:nASXRwCRr 
    ** TGM stock hits lowest level since Sept 23, 2019; posts
worst intraday session since Nov 23
    ** FML stock rises as much as 1.6% to A$0.32 after dipping
earlier in the session
    ** TGM stock down 53.1% in 2021
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))