Gold miner Northern Star’s A$150-million cash bid for the remaining 49% stake in the East Kundana joint venture (JV) has been rejected by ASX-listed Tribune Resources and Rand Mining.
Northern Star in November last year made the all-cash offer after both Tribune and Rand faced a declaration of unacceptable circumstances from the Takeovers Panel in connection with past and ongoing breaches of the Corporations Act, with respect to nondisclosure of controlling shareholdings.