10th Oct 2013 10:42
LONDON (Alliance News) - Minera IRL Limited shares were down 11.1% Thursday after discussions with LionGold Corporation regarding a proposed private placement and possible takeover offer for Minera fell through.
The AIM-listed precious metals mining and exploration company with operations in Latin America said on October 4 that it was in discussions with LionGold for it to subscribe for up to USD10 million of the share capital in Minera over two tranches, which it hoped would lead to an offer being made for Minera in the long run. However, the talks have now ended.
In a separate statement Thursday, Minera said it had closed a USD3 million subscription as part of the financing package for developing its flagship Don Nicolas gold project in Argentina. Compania Inversora de Minas has subscribed for 9.15 million shares at USD0.328 per share, as part of a USD80 million financing package for Don Nicolas announced in August.
Minera shares fell 11.1% to 14.00 pence, putting it in the top ten AIM losers Thursday.
By Tom McIvor; [email protected];
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