Takeover talks on miner Greenwich
British gold mining company Greenwich Resources admitted yesterday that it is in talks with a pair of Australian rivals, which may lead to a reverse takeover.
The company based in Malvern, Worcestershire said it was currently talking to listed companies Buka Minerals and Danae Resources.
The Financial Services Authority has temporarily halted dealings in Greenwich’s shares at the company’s request. Its shares were suspended just after 9.00am yesterday after having already risen 17 per cent to 2.75p, giving the company a valuation of £10.2m.
Greenwich said: “Shareholders will be given further information in due course.”
Greenwich, led by chief executive Peter Bridges, owns gold mines in Ireland and Greece as well as two further mines in western Australia. The company also invests in oil companies, primarily in the Falkland Islands.
