The Chinese gold miner also said that as of April 24, it held a 16.24% stake in the Australian gold producer.

Zhaojin owned a 7.02% stake in Tietto before the offer became unconditional.

All the other terms and conditions of the offer, including the new offer price announced on 15 April, remain unchanged, Zhaojin added.

Shares of Tietto Minerals rose as much as 7.11% to A$0.68, its highest level since April 19, 2023.

The Chinese gold miner last week increased its offer to buy the stake it did not already own in the Perth-headquartered firm to up to A$0.68 per share from A$0.58.

The acquisition, if it goes through, would expand Zhaojin Mining’s business overseas and increase profitability.

http://www.miningnewspro.com/En/News/628291/China’s Zhaojin Mining buyout offer for Tietto Minerals now unconditional