Agincourt accepts Toro’s offer

08 October 2007 | 06:55 Code : 15557 Geoscience events
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Toro Energy Ltd has received acceptance to its offer for Nova Energy Limited....

  Toro Energy Ltd has received acceptance to its offer for Nova Energy Limited from Nova’s major shareholder, Agincourt Resources Limited (a wholly-owned subsidiary of Oxiana Limited).Together with acceptances received from other Nova shareholders, Toro’s relevant interest in Nova is now at 60.24%.According to Toro Energy, the merger of Nova Energy and Toro Energy via the offer will create a significant ASX listed uranium explorer, with a management team combining the skills and capacity to advance the company through project development and emerging production. The company will have the capacity to evaluate and pursue additional opportunities within the uranium sector, with an increased market strength and liquidity.Toro Energy has been formed through the amalgamation of the uranium interests of Oxiana Limited and Minotaur Exploration Limited in South Australia, to create one of the foremost uranium explorers in one of the world's most prospective uranium regions. Toro Energy's primary objective is to build a uranium exploration and mining company which, through a combination of direct and indirect investments with a focus on operational roles.

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