REX Minerals Buyout Offer

July 9, 2024 9:55 am in by

MACH METALS AUSTRALIA have formally made an offer to acquire REX MINERALS in a $393m dollar takeover bid.

A deed’s been signed to buy all outstanding REX shares for 0.47 cents each.

The CEO of REX MINERALS says the transaction will provide a more certain outcome for stakeholders in Hillside — including the local community, the SA Government and Rex employees..

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He says they look forward to working with Mach – and watching them develop Australia’s largest fully permitted and shovel ready copper project – on the YORKE PENINSULA..

The deal is subject to approval by Australia’s Foreign Investment Review Board – as well as shareholders.

You can view the announcement released to the ASX by Rex Minerals in the link.