Conquest Mining Ltd’s
(ASX:CQT) has had its takeover offer for gold producer North Queensland Metals Ltd
(ASX:NQM) supported by investment manager Acorn Capital Ltd.
Acorn holds just over an 11 per cent stake in North Queensland Metals.
Conquest's current stake is 32.76 per cent, including 9.03 per cent attributable to Acorn’s clients. Conquest is yet to receive the remaining 2.01 per cent.
The miner says it has been waiting for Acorn’s full acceptance which would result in Conquest increasing its relevant interest in North Queensland Metals to 34.77 per cent. Conquest’s takeover offer is scheduled to close on 1 October.
Conquest Mining reported a loss for the last six months of 2009.
