HeraldÆs main asset is the undeveloped Dairi leadzinc underground mining project in north Sumatra in Indonesia. The project, which is awaiting regulatory approvals from the Indonesian forestry department, is still to enter its development phase.
Herald has reportedly advised its shareholders to take no immediate action on the bid, which has been described as hostile and unsolicited. Bumi is offering A$2.25 a share, which is a 32% premium to the one-week volume weighted average of Herald shares up to December 11. Bumi argues that this will allow Herald shareholders the opportunity to realise full...
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