Steinepreis Paganin acted for Emerald Resources NL (ASX: EMR) on its off-market takeover bid for Renaissance Minerals Limited. Based on the closing price of Emerald’s shares immediately prior to the date of its Bidder’s Statement, the implied value for the takeover was approximately $50 million. Emerald became the 100% owner of Renaissance in November 2016. Emerald is now an emerging gold company focused on advancing the Okvau Project in the north-eastern region of Cambodia. Emerald proposes to complete a definitive feasibility study on the project in the first quarter of 2017.