Mincor urges shareholders to hold out for higher bid

Nickel miner Mincor Resources has urged shareholders not take any action in relation to an on-market takeover from shareholder Wyloo Metals.

Wyloo currently holds a 19.9% interest in Mincor, and has offered A$1.40 in cash for every Mincor share not already owned by the company, valuing the takeover target at some A$760-million on a fully diluted basis.