Shanta Gold (SHG) has recently announced that “after further engagement and having taken advice from its financial advisors, the board has concluded that there is no merit in continuing discussions with Shandong and Chaarat, which both parties have accepted”. That ended current bid talks and sees the shares currently down to a 10.5p offer price. However, the company added that it is now “focused on optimising and growing its quality portfolio to continue to deliver long-term sustainable returns for shareholders with a number of value catalysts in train for 2023”. We consider that they can re-spark these shares back to the 16p+ of last year.
Shares in AIM-listed Shanta Gold (SHG) shot higher yesterday after the company announced that it had received approaches regarding the potential takeover of the company. Could this be the start of a bidding frenzy in the bombed out Gold mining sector?
Writing on Shanta Gold (SHG) just a few days ago we noted a positive exploration drilling and resource update had helped the shares up but that there still looked much more to go for. A “Q1 2021 Production and Operational Update” has since helped the shares further higher. So, what’s the detail?
