Shareholders of takeover target MOD Resources have exceeded the cash consideration cap of A$41.6-million under the takeover offer from fellow-listed Sandfire Resources.
Copper miner Sandfire in June launched a takeover offer for Africa-focused MOD, offering shareholders either 45c in cash for each of their shares, capped at A$41.6-million, or 25% of the overall consideration, or 0.0664 Sandfire shares for each MOD share held.