Tag: nickel mining

INDEPENDENCE Group (ASX: IGO) has launched a $312m takeover bid for Panoramic Resources (ASX: PAN). IGO said the hostile all-scrip bid was taken to shareholders after a number of attempts to engage with the board for a friendly takeover were unsuccessful. The company cited poor performance and a “lack of engagement from the Panoramic board” as the reason for backing the takeover. “The offer represents, in IGO’s view, the best opportunity for Panoramic’s shareholders to crystalise and de-risk meaningful value from their investment in Panoramic in the foreseeable future,” it said. The offer would pay a premium 42pc to the last closing price of Panoramic shares before the date of the bidder’s statement, and 51pc to the one-month VWAP. Under...

BY ELIZABETH FABRI   ASK any analyst for their best performing commodities of the year, and nickel will be on the list. The base metal is enjoying a stellar year – its price has increased 75 per cent in the last 12 months – as it reinvents itself as a commodity of the future.   A new cohort of nickel juniors are advancing exploration in Australia to capitalise on rising prices. At the end of June, nickel was hovering around the $US15,000 per tonne mark; a sizable increase from the $US8931 it was fetching a year prior. And if forecasts are anything to go by, demand for the metal is expected to increase by a further 50 per cent to...