Australia's Zenith Minerals gains on funding offer from Aurenne Group
05/10/2026 04:30
BUZZ-Australia's Zenith Minerals gains on funding offer from Aurenne Group ** Shares of Australia's Zenith Minerals ZNC.AX rise as much as 6.7% to A$0.078, on track for their strongest session since September 4
** Minerals explorer receives non-binding indicative funding offer from Australian gold miner Aurenne Group Holdings
** According to the proposal, Aurenne has offered co A$5 million ($3.47 million) through either underwritten rights issue for existing shareholders or placement of new Zenith shares to Aurenne
** Zenith already has a takeover implementation deed in place with Forrestania Resources FRS.AX
** Zenith board has rejected Aurenne's proposal
** Stock down 15.3% YTD, including session's moves
($1 = 1.4418 Australian dollars)
(Reporting by Shravya Marakini in Bengaluru)
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Australia's Zenith Minerals gains on funding offer from Aurenne Group