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Accent Resources receives takeover advice

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Accent Resources (ASX: ACS) has received written advice of a friendly takeover offer from the company it has been in discussions with to sell its Magnetite Range Iron Ore project.

Accent said it will consider the merits of any formal takeover offer proposal when, and if received.

In March Accent said the company had been holding close discussions with over 10 Chinese parties that included large Iron & Steel companies, small to medium sized steel mills and private investors regarding the sale of the project.

Magnetite Range is located in Western Australia 300 kilometres northeast of Perth and recently had reported a maiden JORC Resource of 391 million tonnes at 30% Iron with more than 70% of the resource in the Indicated category.

Quick facts: Accent Resources

Price: 0.005 AUD

ASX:ACS
Market: ASX
Market Cap: $905 k
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