Finders Resources (ASC:FND) has advised shareholders to not take any action in relation to a media release from Eastern Field Developments regarding its off-market cash offer of $0.23 per Finders share.
The release said that operational and financial downgrades and future uncertainties have emerged since Eastern Field announced its cash takeover on 24 October 2017.
Eastern Field said Finders statements ahead of its target statement release raise serious questions about its ability to achieve its production goals and extend mine life, confirming their views of the significant operational challenges at the Wetar Copper Project.
Finders said it will release a target statement by 5 December 2017 which will contain further information including a report as to whether the offer is fair and reasonable for Finders shareholders with a formal recommendation in relation to the offer.
Shares in Finders Resources (ASC:FND) are trading flat at $0.24.
