Magma Metals advises that following the off-market takeover of the Company by Panoramic Resources changes to the composition of the Board of Directors have been implemented as follows: Appointed, John Rowe - Non-executive Chairman, Christopher Williams - Director, Trevor Eton - Director, Resigned: Max Cozijn - Non-executive Chairman, Keith Watkins [...]
Magma Metals notes the announcement yesterday by Panoramic Resources Limited that it has acquired a relevant interest in 54.15% of Magma shares. Today Magma released its Second Supplementary Target's Statement in response, a copy of which is available on the Company's website and is filed under the Company's profile on SEDAR
Panoramic Resources announced on 27 April 2012 an intention to increase the exchange ratio under its takeover bid for Magma Metals to 1 Panoramic share for every 7 Magma shares from the original offer of 2 Panoramic shares for every 17 Magma shares. This increase in the exchange ratio is, however, conditional upon Panoramic achieving an interest(1 [...]
Magma Metals notes the announcement today by Panoramic Resources that Panoramic intends to increase the exchange ratio under its current takeover bid for the Company to 1 Panoramic share for every 7 Magma shares, conditional upon achieving an interest(1) of more than 50% of Magma shares by 7:00pm (Sydney time) on 8 May 2012. Magma's Directors are [...]
Magma Metals is pleased to provide its activities and cash flow report for the quarter ended March 31, 2012. Field activities included drilling at the Thunder Bay North platinum-palladium-copper-nickel project in north-western Ontario. These activities and plans for further exploration work are described in this report.