Latest Xam News

Xanadu Mines Ltd shares will be suspended from ASX trading following compulsory acquisition notices issued by Bastion Mining Pte. Ltd, signaling a significant shift in ownership.

Bastion Mining has taken control of over 90% of Xanadu Mines shares through a takeover bid, moving swiftly to compulsory acquisition and setting the stage for the Kharmagtai project’s next phase.

Bastion Pte. Mining Ltd has secured an 86.8% interest in Xanadu Mines, prompting the board to recommend shareholders accept the takeover offer ahead of its extended July 29 closing date.

Xanadu Mines has announced that Bastion Mining’s takeover offer is now unconditional, with key shareholders Zijin and CAAF Ltd accepting the bid and the offer period extended to mid-July.

Bastion Mining has surpassed the critical 50.1% ownership threshold in Xanadu Mines, removing key conditions from its takeover bid and declaring the offer unconditional.

Xanadu Ltd’s major shareholder Zijin Mining has accepted Bastion Pte. Mining Ltd’s takeover offer, pushing Bastion’s stake close to 30% and prompting the Takeover Committee to recommend shareholders accept the bid.

Xanadu Mines Limited has received a conditional off-market takeover offer from Bastion Mining Pte Ltd at A$0.08 per share, representing a significant premium. The company’s independent Takeover Committee unanimously recommends acceptance, supported by an independent expert’s fair and reasonable valuation.

Bastion Mining has tabled a recommended $0.08 per share cash offer for Xanadu Mines, representing a significant premium and backed unanimously by Xanadu's independent directors and largest shareholder.

Xanadu Mines has received a takeover bid from Bastion at A$0.08 per share, representing a substantial premium and backed unanimously by the board and major shareholder CAAF. The offer includes a $17.2 million capital injection and is subject to limited conditions.

Xanadu Mines has transitioned operatorship of its flagship Kharmagtai project to Zijin Mining, delivered key feasibility milestones, and is now exploring strategic funding and corporate options amid a solid cash position.

Xanadu Mines has delivered a landmark Pre-Feasibility Study and Maiden Ore Reserve for its Kharmagtai Copper-Gold Project, confirming its status as a world-class asset. The company also secured $7.5 million in funding and transitioned project operatorship to Zijin Mining, setting the stage for a Bankable Feasibility Study.

Xanadu Mines has lodged a comprehensive NI 43-101 technical report for its Kharmagtai Copper-Gold Project, revealing key differences in production and economic outcomes compared to earlier ASX disclosures due to regulatory standards.