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ARTICLE · 14 JULY 2020

July Australian Energy & Resources Market Update

Johnson Winter & Slattery
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On 3 June 2020, Perseus Mining Limited announced that it entered into a scheme of arrangement under which it will acquire 100% of the issued share capital of ASX-listed Exore Resources Limited.

AustraliaEnergy and Natural Resources
Candy Cheung
Candy Cheung
Haerim Nam
Haerim Nam
Cloe Woodward
Cloe Woodward
Rachel Cox
Rachel Cox
Tom Barret
Tom Barret
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Mining

Recent annoucements

Perseus Mining proposes acquisition of Exore Resources via scheme of arrangement

On 3 June 2020, Perseus Mining Limited announced that it entered into a scheme of arrangement under which it will acquire 100% of the issued share capital of ASX-listed Exore Resources Limited. If implemented, the scheme consideration of A$59.8 million will be paid in the form of shares. Each shareholder of Exore will receive one Perseus share for every 12.79 Exore shares held.

The announcement also noted that Exore has elected to exercise its pre-emptive right to acquire the remaining 20% of Apollo Consolidated Limited's joint venture interests in the Bagoe and Liberty Projects in northern Côte d'Ivoire for US$4.5 million, the completion of which will result in Exore owning 100% of the two projects.

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