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US Nickel Makes Offer for Argent Minerals

US Nickel Ltd has announced that it is to make an offer for Argent Minerals Ltd. According to the takeover terms US Nickel will offer four of its own shares for three shares in Argent Minerals that it doesn't currently own.

Argent Minerals has gold, silver, lead, and copper assets in Australia. The ‘off market’ bid was not received well by investors and both companies saw their share prices slide by almost six percent in the day’s trading after the announcement.

In a statement made by Argent Minerals it was mentioned that the board was considering the terms of the takeover offer and intends to engage an independent expert to prepare a report on whether the takeover offers are fair and reasonable.

US Nickel is keen to offer Argent Minerals an unsecured loan of $4 million to help it develop its Bullant gold project in Western Australia. Argent is currently hoping for good returns from its Kempfield project in New South Wales to do the same.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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