Moly ups game in Gulf Alumina M&A race

By Davide Ghilotti
Published: Wednesday, 09 November 2016

Moly has put forward a higher cash option and a cash plush share option as it seeks to come out on top against rival Metro Mining on the buyout of junior bauxite developer Gulf Alumina – a deal which is crucial for Moly’s shares to resume trading on the ASX.

Australian resource company Moly Mines has increased its original offer to purchase junior bauxite miner Gulf Alumina, after rival Metro Mining joined the race for the acquisition.

In an announcement to the ASX on 8 November, Moly updated its existing bid by offering an all-cash option of Australian dollar (A$) 0.63 per...

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