BHP extending the initial expiry of its offer from Nov. 9 to Nov. 16
The two leading Australian bidders for Noront Resources and its Ring of Fire nickel and metal assets are discussing a “mutually beneficial arrangement” regarding the sale of the Far North junior mining company.
Currently, Wyloo Metals, a subsidiary of Tattarang, led by Australian mining magnate Andrew Forrest, is the largest shareholder of Noront at 37 per cent.
Melbourne-headquartered BNP and its subsidiary company, BHP Lonsdale, announced Nov. 2 it is currently in discussions with Perth-based Wyloo Metals regarding its potential support of BHP’s latest offer of $0.75 per share offer to acquire Noront.
To allow more time for those discussions to progress, BHP said it is extending the initial expiry of its offer from 11:59 p.m. (Toronto time) on Nov. 9 to 7 p.m. (Toronto time) on Nov. 16.