Silvercorp Metals (TSE:SVM) has released an update.
Silvercorp Metals Inc., a Canadian mining company, has announced the lapse of its acquisition offer for OreCorp due to not meeting the minimum acceptance threshold and has chosen not to match a competing bid. Despite the setback, Silvercorp is poised to receive a break fee of about AUD$2.8 million under certain conditions detailed in the bid documentation. Silvercorp continues to focus on growth through cashflow from long-life mines, exploration, and strategic mergers.
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