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Mako Gold Limited ( (AU:MKG) ) just unveiled an update.
Mako Gold Limited has announced a merger with Aurum Resources Limited through a Bid Implementation Agreement, where Aurum acquires over 90% of Mako’s shares. This merger aims to create a significant gold exploration and development entity in West Africa, leveraging a strong cash position of over A$20 million to advance key projects. Mako shareholders will hold a 20.5% stake in the new entity, while Aurum shareholders will own 79.5%. The merger positions the combined company to pursue growth with a larger market scale and reduced costs, and it includes strategic developments like ordering new drill rigs for the Boundiali Project and securing interim funding to support operations during the takeover.
More about Mako Gold Limited
Mako Gold Limited is involved in the exploration and development of gold projects, primarily focusing on its flagship Napié Project in Côte d’Ivoire. The company operates within the mining industry and is engaged in discovering high-grade gold resources.
YTD Price Performance: 40.0%
Average Trading Volume: 1,907,800
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$13.81M
For detailed information about MKG stock, go to TipRanks’ Stock Analysis page.
