CORPORATE ACTIVITY
ASX-listed juniors Aphrodite Gold and Spitfire Materials on Monday announced a merger to create a diversified Australian gold development company with a combined resource of some 1.3-million ounces.
Under the terms of the agreement, Spitfire has agreed to acquire all of the outstanding capital of Aphrodite, in which it currently holds a 10.38% stake, offering shareholders one new Spitfire share for every 2.9 Aphrodite shares held.
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