Torian Resources Limited
Torian Resources Ltd (TNR), an ASX listed company, (ASX:TNR) is a highly active Australian gold company that is focused on developing the gold mines of tomorrow. Since May 2015, Torian has increased its landholding by approximately 75% in the region North West of Leonora via seven separate acquisitions. Torian is now the second largest landholder in this highly sought after region and is focused on fast tracking its development.
In October 2016, TNR announced a takeover bid to acquire all of the shares in Cascade Resources Limited (Cascade). Cascade is an unlisted public company with several gold projects located in the Leonora region. The rationale of the transaction is to transform Torian into a significant player in the Goldfields Region and provides Torian and Cascade’s shareholders with a multi asset, highly diversified, development pipeline that allows the Company to accelerate its growth strategy.
This transaction is ongoing and, subject to Cascade shareholders accepting the TNR offer, is expected to complete in early 2017.