Titan Minerals Limited announces that it has entered into a bid implementation agreement (BIA) with Andina Resources Limited (Andina), by which Titan will acquire all of the issued share capital in Andina via an off-market takeover bid (Bid). Andina is a Peru focussed unlisted public company incorporated in Australia.
The purchase aims to enhance Titan’s footprint in Peru as a significant gold and base metals production and exploration company.
The combined group will have significant growth potential with existing and expanding production, diversified and superior growth potential, proven management and operating teams and large international market profile. Boards of both Titan and Andina believe the combination of the two overlapping businesses will generate significant value for shareholders.
Titan will continue to develop its current Peruvian assets, the Torrecillas Gold Project and the San Santiago Project, in addition to operating Andina’s complementary assets comprising the Tulin Gold Plant and the Vista Gold Plant.