Alto rejects Habrok offer

AFTER dealing with multiple takeover offers in the last 18 months, Alto Metals has had enough, rejecting a A$17 million approach from privately-owned Habrok Mining and announcing plans to raise $5.1 million to fund its Western Australian exploration push.

Alto rejects Habrok offer Alto rejects Habrok offer Alto rejects Habrok offer Alto rejects Habrok offer Alto rejects Habrok offer

Sandstone has produced 1.3Moz, but has plenty of potential remaining.

Alto's board, which controls around 22% of the explorer, had intended to accept Shandong Goldsea Group's March offer, due to a need for cash and the COVID-19 inspired market turmoil, but with
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