Alto shares halt on takeover bid
TRADING was halted Tuesday in shares of ASX-listed gold company Alto Metals (ASX: AME) after it received a takeover approach from Goldsea Australia Mining, a subsidiary of Chinese company Shandong Goldsea Group. Alto Metals shares will stay in a trading halt until Thursday or pending its response to the takeover approach. The gold exploration company advised its shareholders on February 24 that Goldsea had offered to acquire all of its shares for the price of $0.065/share in cash. Alto noted that Goldsea’s approach was subject to conditions including Foreign Investment Review Board approval and due diligence to confirm the mineral resource in its Sandstone Gold project. The company stated that its directors advise Alto Metals shareholders take no action and…