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Inca Minerals Limited ( (AU:ICG) ) has shared an update.
Inca Minerals Limited has announced a binding agreement to acquire Stunalara Metals Limited through an off-market takeover bid. This acquisition includes Stunalara’s significant high-grade gold and gold-antimony Hurricane Project in North Queensland, which features multiple undrilled prospects. The transaction is considered a strategic move for Inca, enhancing its exploration portfolio with advanced projects in Queensland and additional prospective sites in Tasmania and Western Australia. The agreement involves issuing 300,000,000 Inca shares to Stunalara shareholders, forming approximately 22.6% of Inca’s shares post-bid. The deal, subject to standard conditions, is expected to provide Inca with a substantial exploration opportunity in historically significant mining regions.
More about Inca Minerals Limited
Inca Minerals Limited is an exploration company involved in the mining industry, focusing on the exploration of high-grade gold and antimony projects. The company is actively engaged in expanding its portfolio with interests in various exploration sites across Australia, specifically in Queensland, Tasmania, and Western Australia.
Average Trading Volume: 5,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$14.55M
Find detailed analytics on ICG stock on TipRanks’ Stock Analysis page.