18/10/2007
Australian manganese and nickel play Consolidated Minerals has recommended bidder Palmary's A$4.50 (£2) a share offer.
Western Australia-based ConsMins had originally preferred the bid from Pallinghurst, a consortium headed by mining tycoon Brian Gilbertson, but has now decided to support the offer from Ukrainian-owned Palmary. The bid from aussie-quoted Territory Resources, headed by ex-ConsMins chief Michael Kiernan, seems to have been trumped, in the absence of even later moves.
However, the shares are 1.5p up today at 214.5p, compared with Growth Company Investor's recommendation last year at 66.5p. Hold on.
Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.
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