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(Sharecast News) - Trading in shares of precious metals producer Anglo Asian Mining was restored early on Thursday after being briefly suspended earlier in the week amid takeover speculation.
Anglo Asian Mining said ACG Metals had confirmed it was in the early stages of considering a possible offer for the company. However, Anglo Asian stressed that the announcement did not amount to a firm intention under Rule 2.7 of the Takeover Code and there was no certainty an offer would be made or that any agreement would be reached.
Under the Code, ACG has until 24 December to announce a firm intention to make an offer or withdraw.
On another note, the AIMlisted firm highlighted progress on its growth strategy to transition into a midtier, copperfocused producer, noting that two new mines, Gilar and Demirli, were brought into production during 2025 on time and on budget.
Anglo Asian also said it remained focused on developing its resource base of more than 400,000 ounces of gold and one million tonnes of copper, with plans to bring the Xarxar and Garadag assets into production sustainably.
As of 1035 GMT, Anglo Asian shares had surged 16.88% to 225p.
Reporting by Iain Gilbert at Sharecast.com
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