Australia's Perseus Mining gains on takeover offer intention for OreCorp

Orecorp

22/01/2024 03:09

** Shares of Australia's Perseus Mining  PRU.AX  rise as
much as 2.4% to A$1.7925, marking its biggest intraday pct gain
since Jan. 15
    ** The gold explorer announces intention to make off-market
takeover offer for all issued shares in OreCorp  ORR.AX  that it
didn't own
    ** Adds deal for A$0.55 per share
    ** Says offer implies total ORR equity value of around A$258
mln ($170.33 mln)
     ** Perseus to have 3 operating mines producing gold at rate
of over 535,000 ounces per year in FY2023 - PRU
    ** PRU went down 12.3% in 2023

($1 = 1.5147 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))