Mincor Resources (ASX:MCR) is advising its shareholders to take no action regarding an on-market takeover bid from investment firm Wyloo Investments at $1.40 per share.
Wyloo Wyloo already has a 19.9% stake in Mincor, which owns a potential nickel project in the Kambalda district of Western Australia.
Mincor Resources is focusing on electric vehicles and industrial decarbonisation, which it expects will increase demand for high-grade nickel sulphides.
Shares of Mincor Resources were up 41.06% at 1:32pm.