Clock ticking for Moly to match offer for Gulf

ASX-listed Moly Mines has five days in which to match a takeover offer from fellow-listed Metro Mining for Gulf Alumina, after the latter determined Metro’s offer to be a superior proposal. Moly Mines in September launched a combination of A$0.46 in cash and 1.4 options for each Gulf share held, with the company revealing plans to progress Gulf’s Skardon River project, in Queensland, into production as “soon as possible”.