Moly says new Metro offer superior to Gulf Alumina’s

ASX-listed Moly Mines has increased its offer for takeover target Gulf Alumina, to rival a bid from fellow-listed Metro Mines. 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”.