Southwestern Okays Takeover Bid By Hochschild Mining plc For 50 Cents

The board of directors of Southwestern Resources Corp. has given the "friendly" stamp on a 50 cents/share takeover offer from Hochschild Mining plc. The takeover offer is still subject to an independent fairness opinion and due diligence, and has yet to be approved by Southwest's shareholders. The news release specifies that March 23rd is the deadline for the offer, and that Geoinformatics Exploration Inc. lost out.

As of the time of this posting, the market hasn't opened for trading. Southwestern's current bid and ask is 36 cents, indicating an open there. The bid-ask is well above yesterday's closing price of 20.5 cents.

Southwestern Resource Corp.'s Google Finance web page is here.

----------

NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.