Xanadu Mines: Strategic Acquisition and Growth Outlook

Xanadu Mines (ASX: XAM), a dual-listed exploration firm on the ASX and TSX, is advancing its position in Mongolia through large-scale copper-gold projects, notably the Kharmagtai JV with Zijin Mining. The company has received a takeover offer from Bastion, valuing shares at AU$0.08—representing a 57% premium on its last traded price. The bid is strongly supported by Xanadu's major shareholder CAAF Ltd and the Board’s Takeover Committee, subject to the Independent Expert’s fairness conclusion. Bastion and Xanadu have signed a Bid Implementation Agreement, stipulating conditions such as a minimum 50.1% stake acquisition and restrictions on share options under the JV agreement. Additionally, Bastion has agreed to invest AU$17.2 million via a share subscription to support ongoing operations, increasing its stake to 13.04%. Advisory support is provided by top legal and financial firms from both Australia and Canada.

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