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Westgold rolls out unsolicited Musgrave takeover bid

WITH abnormal trading levels in the shares of Western Australian gold explorer Musgrave Minerals yesterday, its larger rival, Westgold Resources, has confirmed it has lobbed an all-scrip takeover offer in order to win control of the 927,000 ounce Cue gold project.

Haydn Black
Visible gold from Musgrave's Cue project

Visible gold from Musgrave's Cue project

In a pitch to investors this morning, Westgold managing director Wayne Bramwell said the 1-for-5.37 share deal valued Musgrave at $177 million, or 30c per share, and would be a win for all concerned. ...

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