All tagged Gryphon ASX:GRY
Gryphon Minerals (ASX: GYR) is pleased to inform the market that the Federal Court of Australia today approved the Company's Scheme of Arrangement being lodged with ASIC and the ASX, giving effect to its merger with ASX/TSX-listed Teranga Gold Corporation. The Scheme was previously approved by Gryphon shareholders at a meeting held on September 23.
Gryphon Minerals (ASX:GRY) shareholders have voted overwhelmingly in favour of a proposal by Teranga Gold corporation to acquire the company. Gryphon easily met the requirement for 75% of shares voted at the scheme meeting to be voted in favour of the deal, with 97.7% of shares voted that way. All that remains is for the Federal Court to approve the Scheme of Arrangement in a hearing next week and the merger will be effective.
Gryphon Minerals (ASX:GYR) has lodged its Scheme Booklet with ASIC for the proposed merger with ASX/TSX-listed Teranga Gold Corporation. The Independent Expert has concluded that in the absence of a superior proposal, the Scheme is fair and reasonable and therefore is in the best interests of shareholders. The Scheme Meeting wil be held in Perth on Friday 23 September.
Burkina Faso focussed gold explorer, Gryphon Minerals (ASX:GRY), has released shallow high grade drill intercepts from the Banfora Gold Project, including 21m at 3.9g/t Au and 14m at 4.0g/t Au. These results will feed into the CIL plant study, being driven by the merger with Teranga Gold Corp.
Gryphon Minerals (ASX:GYR) June Quarterly Report focussed on the proposed merger with ASX/TSX-listed Teranga Gold Corporation. However, there was also a range of good drilling results from Fourkoura including 7m @ 12.8g/t Au, 8m @ 7.5g/t Au and 11m @ 5.3g/t Au. Drilling is continuing at Banfora, aimed at drilling out Fourkoura and Nogbele for a potential CIL operation.