Bushveld Minerals takes 54 per cent of Lemur Resources

Shares in South Africa-focused iron ore and tin miner Bushveld Minerals fell after its offer for the takeover of Lemur Resources closed. The full takeover offer closed at 17:00 in Western Australia on Friday, November 1st. Bushveld, however, only managed to acquire an interest of 54.39% of Lemur's issued share capital. "I am pleased to announce following the closing of the deadline, Bushveld has acquired a majority interest of 54.39% in Lemur Resources," said Chief Executive Officer, Fortune Mojapelo."The company intends to promptly conduct a comprehensive strategic review on Lemur in the coming weeks and will update the market accordingly". Shares dropped 6.82% to 3.08p at 13:33 on Tuesday. RD