Australia's Oxiana declares offer for Agincourt Resources unconditional

SYDNEY (XFN-ASIA) - Gold and base metals miner Oxiana Ltd said it has declared its scrip offer for gold miner Agincourt Resources Ltd unconditional.

It said to date, it has received acceptances for 52.05 pct of Agincourt's issued capital under the offer, which has been recommended by Agincourt's board.

Oxiana is offering 0.65 of its shares for each Agincourt share.

At 10.15 am, Oxiana was up 0.06 aud at 2.83, valuing Agincourt at about 396 mln aud or 1.839 aud a share.

Agincourt was up 0.035 aud at 1.815.

Agincourt owns the still-to-be-developed Martabe gold project in North Sumatra, Indonesia, and also has a controlling stake in Nova Energy Ltd, which holds the advanced Lake Way/Centipede uranium project in Western Australia

The offer closes on March 30.

(1 usd = 1.24 aud)

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