Melbourne, Victoria – BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly owned subsidiary of BHP, today acknowledged receipt of notice from Noront Resources Ltd. (“Noront”) that the Noront board of directors has determined that Wyloo Metals Pty Ltd (“Wyloo”) has made a “superior proposal” offering Noront shareholders C$0.70 in cash per Noront share.
Under the terms of the Support Agreement dated July 26, 2021 between Noront, BHP Lonsdale and BHP Western Mining Resources International Pty Ltd. (the “Support Agreement”), BHP Lonsdale has until October 25, 2021 to amend the terms of its Offer and Support Agreement to match the proposal made by Wyloo.
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