Original article by Paul Garvey
The Australian – Page: 20 : 12-Mar-19
Directors of iron ore junior Gindalbie Metals have recommended that shareholders accept a $39m takeover offer from China-based Ansteel. Gindalbie and Ansteel are joint venture partners in the Karara magnetite mine in the Mid-West region of Western Australia, and Gindalbie wrote down the value of its 48 per cent stake in the project to zero in 2014. Gindalbie also intends to demerge its Coda Minerals subsidiary.
GINDALBIE METALS LIMITED – ASX GBG, ANSHAN IRON AND STEEL COMPANY, CODA MINERALS LIMITED, ATLAS LEAD GENERATION PTY LTD, BCI MINERALS LIMITED – ASX BCI