Australia's Matsa Resources hits near 3-month high on takeover offer

Patronus Resources

10/02/2025 24:53

** Shares of Matsa Resources  MAT.AX  rise 11.9% to A$0.047,
their highest since November 19, 2024
    ** Gold miner receives takeover bid from Patronus Resources
 PTN.AX  at an offer price of A$0.045 cash per share
    ** Offer price represents a premium of 7.1% to MAT's last
closing price of A$0.042
    ** Offer values MAT at A$33 million ($20.66 million)
    ** PTN shares down 1.7% to A$0.058
    ** Stock posts biggest intraday gain since December 30
    ** About 2.61 million shares change hands, more than 9 times
the 30-day average of ~279,600
    ** MAT up 34.3% YTD, including session's moves, while PTN
shares have risen 18.4%

($1 = 1.5972 Australian dollars)
    

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))