Australia's Mincor Resources soars most since 2000 on Wyloo Metals offer

Mincor Resources NL

21/03/2023 24:08

** Shares of Mincor Resources  MCR.AX  surge as much as
41.4% to A$1.470, their sharpest gain since June 2000
    ** Unit of Wyloo Metals, backed by Australian billionaire
Andrew Forrest, offers to buy all the shares of MCR it does not
already own
    ** Deal values the nickel miner at A$750.3 mln  ($503.90
mln)
    ** Offer price of A$1.40 cash per share represents a 34.6%
premium to MCR's last close
    ** Stock hits highest since Feb. 24
    ** More than 3.6 mln shares have changed hands, compared
with the 30-day average of about 1.7 mln shares 
    ** Stock down ~30.9% this year as of last close 
    



($1 = 1.4890 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))