Reuters reports that Brazilian industrial conglomerate EBX will offer $1.5 billion to buy out Ventana Gold Corp VEN:CA at $12.63 per common share. The offer represents a 26% premium on Ventana’s Tuesday’s closing price of $10.03. Ventana announced that it has acknowledged the unsolicited bid and has engaged advisors to assist in responding to it.
Yesterday Ventana announced assay results from its La Bodega Gold Project in Colombia of 4.7 g/t gold over 8 metres (including 16.73 g/t gold and 139.9 g/t silver over 2 metres), 4.67 g/t gold and 213.91 g/t silver over 2.2 metres, 1,000 g/t gold and 330 g/t silver over 1 metre, 7.21 g/t gold and 251.33 g/t silver over 3 metres, 4.41 g/t gold and 81 g/t silver over 19 metres, 17.49 g/t gold and 39.16 g/t silver over 19.9 metres.
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VP Investor Relations
by Ted Niles