M&A

Middle Island moves on Alto

MIDDLE Island Resources has targeted cash-strapped Alto Metals with a hostile takeover bid aimed at consolidating control of the Sandstone greenstone belt in Western Australia's Murchison region after attempts at a friendly merger were rebuffed.

 Middle Island's Sandstone mill

Middle Island's Sandstone mill

Middle Island has some smaller deposits and the only mill for 160km, albeit one on care and maintenance, but it needs to justify a A$10 million-plus refurbishment, while Alto has larger resources and a...

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