Blackstone Minerals (ASX:BSX) to Merge with IDM International
Transaction Overview
Blackstone Minerals Limited (ASX:BSX) will merge with IDM International Ltd through an all-scrip merger of equals. IDM International shareholders will receive 7.4 Blackstone shares for each IDM share held, valuing IDM at approximately $18.7 million. The merger is subject to shareholder approval from both companies.
Project Highlights
The merged entity will focus on the Mankayan Copper-Gold Porphyry Project in the Philippines, one of the largest high-grade undeveloped copper-gold projects globally. Mankayan has over 56,000 metres of diamond drilling completed to date and remains open for further exploration.
Future Outlook
The merger aims to leverage Blackstone’s extensive mine development experience in South East Asia and existing regional relationships, enhancing the potential of the Mankayan project. The combined team will utilise cost-effective exploration and development resources from both Blackstone’s and IDM’s operations.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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