New Century Resources (ASX: NCZ) has announced Sibanye-Stillwater now has a relevant interest in 52.67% of the shares on issue (69.3M) of New Century.
Since Sibanye-Stillwater announced an off-market takeover offer to acquire all of the New Century shares they do not own at $1.10 cash per share, it had acquired a 32.77% interest in the company.
The New Century Board recommends that shareholders take no action at this time, and is continuing to assess Sibanye's takeover offer.
New Century operates Australia's largest hydraulic mine at the Century Mine in Queensland, and are actively pursuing life extension opportunities, as well as studying potential to restart copper production at the Mt Lyell Copper Mine in Tasmania.