Lewis Silkin advises London-listed Bushveld Minerals on takeover offer to acquire Lemur Resources
13 May 2013
Lewis Silkin has advised its client Bushveld Minerals Limited (AIM:BMN) on its intention to make an off-market takeover offer to acquire all of the ordinary shares in Lemur Resources Limited (ASX:LMR). The Lewis Silkin team was led by Corporate Finance partner Nadim Khan, alongside senior associate Ian McDonald.
Lewis Silkin has advised its client Bushveld Minerals Limited (AIM:BMN) on its intention to make an off-market takeover offer to acquire all of the ordinary shares in Lemur Resources Limited (ASX:LMR).
Bushveld is a mineral development company focused on exploring and developing mineral projects on the Bushveld Complex in South Africa. Bushveld's primary projects are the Bushveld Iron Ore Project and the Mokopane Tin Project, both located on the northern limb of the Bushveld Complex. Bushveld listed on the AIM Market of the London Stock Exchange in March 2012 and is incorporated in Guernsey.
Lemur Resources is headquartered in Perth, Western Australia, and has as its main asset a thermal coal project in Madagascar where it has established a 136mt thermal coal resource for which a scoping study is underway. The company is also seeking an Independent Power Producer license in the country. The Company listed on the ASX in August 2011.
Fortune Mojapelo, CEO of Bushveld, says “We are delighted to announce our intention to make an offer to acquire Lemur Resources Limited as this deal forms an essential part of Bushveld Minerals’ overarching strategy to create a diversified African junior mining company with an attractive portfolio of mineral assets. We believe that this acquisition presents an attractive opportunity to align two companies whose combined management capabilities, listed platforms and balance sheet can be leveraged to identify, acquire and develop attractive mineral projects with potential for near term cash flows, scale and favourable cost curve positioning”.