Shares in Rocklands Richfield PCI Limited
(ASX:RCI) jumped more than 20 per cent on Friday after announcing China’s Shandong Energy Linyi Mining Group has approached the company with a takeover offer.
Shandong has has offered to pay between $0.52 and $0.562 per share, valuing the coal explorer at up to $202 million.
Rocklands Richfield says it is considering the indicative, non-binding and conditional proposal which may or may not lead to a formal offer.
Shares in Rocklands Richfield jumped 20.69 per cent on Friday, closing at $0.35.
In the first half of its 2012 financial year Rocklands Richfield reported a net loss of $2.3 million.
