Robust Resources Limited (ASX:ROL) has received a potential takeover offer at $0.49 per share.
The gold explorer received the joint offer from Stanhill Capital Partners and Droxford International and the proposal has been lodged with ASIC.
The offer comes at a premium of 123 per cent on the Robust share price prior to the original offer made my Stanhill.
The company has sought expert advice and, conditional upon fairness, it intends to recommend shareholders accept the offer, once it becomes available.
Robust reported a net loss of $4 million in the first half of the 2014 financial year.
