Australia's Tietto Minerals hits one-year high on improved Zhaojin bid

Zhaojin Mining Industry Co

15/04/2024 02:30

** Shares of gold explorer Tietto Minerals  TIE.AX  rise as
much as 3.1% to A$0.67, their highest since April 2023
    ** Chinese gold miner Zhaojin Mining  1818.HK  has increased
its buyout bid to up to about A$733 mln ($474 mln)
    ** Zhaojin had originally bid A$629 mln in October 2023
    ** The A$0.68 per share offer represents a 60% premium to
Tietto's last closing price on Oct. 27, before the initial offer
was tabled
    ** Stock has risen 6.6% this year, as of last close


($1 = 1.5463 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))