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.

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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