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Market: ASX
Sector: General Mining
EPIC: NGM
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NGM Resources
www.ngmresources.com.au

NGM Resources Limited (ASX:NGM) is a diversified mineral exploration company with a focus on uranium and base metals. Headquartered in Perth, the company has agreements covering uranium exploration projects in Niger, West Africa, and metal exploration projects in Madagascar, Southern Africa.

Full NGM Resources profile here
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NGM Resources shareholders take up Paladin takeover offer

9th Sep 2010, 10:14 am

Paladin Energy (ASX: PDN) shareholding in NGM Resources (ASX: NGM) has increased to 38.51%, equivalent to 69,491,568 shares as at September 8 2010, up from 33.57% or 60,568,904 shares on September 7 2010, the previous change of interest notice lodged with the ASX.

The one day change is Paladin now holds an extra 8.9 million, or 4.9% more of the total outstanding NGM ordinary shares than they did a day before.

If this rate of share acquisition continues, Paladin will hold more than 50% of NGM shares by early next week.

The directors of NGM Resources unanimously recommended that shareholders accept the Paladin offer, in the absence of a superior proposal.

Paladin finished the day up $0.01 to $3.82.

The offer closes at 5.00 pm (AWST) on 8 October 2010, unless extended or withdrawn.

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