Eastern Goldfields makes way for Windward/Independence deal

Takeover target Windward Resources has abandoned a financing transaction with fellow-listed Eastern Goldfields, in favour of a deal with diversified miner Independence Group. Eastern Goldfields in September announced plans to acquire a 14.3% stake in Windward for A$2.1-million. However, Independence last week launched a A$20.5-million offmarket takeover offer for Windward, which is conditional upon the Eastern Goldfields funding agreement not proceeding.