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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (166736)	8/10/2022 3:10:48 PM
From: LoneClone	Read Replies (1) of 192642

Quantum Graphite makes a play for Lincoln miningweekly.com 9th August 2022 By: Esmarie Iannucci Creamer Media Senior Deputy Editor: Australasia PERTH (miningweekly.com) – Junior metals explorer Lincoln Minerals has become the target of an off-market takeover bid from fellow-listed Quantum Graphite. Quantum Graphite on Tuesday lodged a bidder’s statement offering 1 of its own shares for every 40 Lincoln shares held. The offer implied a value of 1.02c a share for each Lincoln share held, and represented a more than 30% premium to Lincoln’s most recent share price. Quantum holds the Uley flake graphite mineral deposit, in South Australia, as well as a downstream joint venture for the manufacture of coarse natural flake based thermal storage media. In its bidder’s statement, Quantum noted that that the development of Lincoln’s assets within the company’s own business had the potential to deliver significant synergies that would generate greater value for Lincoln shareholders compared with the development of these assets by Lincoln as a stand-alone company. Lincoln holds base metals, iron-ore and graphite exploration assets in south Australia, including its Kookaburra Gully graphite project. Lincoln’ has been suspended from share trading since September 2020 after the ASX found that its operations were not adequate to warrant the continued quotation of its securities. The company’s securities would remain suspended until it can demonstrate compliance with ASX listing rules.

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