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August 25, 2009

Sylvania Gets Approval for Great Australian Acquisition

Platinum producer Sylvania Resources has received approval from Australia's Federal Court to acquire all remaining shares it does not already own in Great Australian Resources. Sylvania, which acquired an 89.82% stake in Great Australian on 11 August, asked to have the off-market take

By cms admin

Platinum producer Sylvania Resources has received approval from Australia’s Federal Court to acquire all remaining shares it does not already own in Great Australian Resources.

Sylvania, which acquired an 89.82% stake in Great Australian on 11 August, asked to have the off-market takeover bid for Great Australian extended to 27 August due to concerns that valid acceptances had not been processed, miningnews.net reports.

Great Australian Resources is currently focused on mineral projects in South Africa.

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