New offer emerges for Alto

The share price of junior Alto Metals surged by more than 80% on Monday as the company weighs its options regarding a possible bid from fellow-listed Goldsea Australia Mining.

Goldsea, which is an Australian wholly-owned subsidiary of Shandong Goldsea Group, at the end of last week announced its intention to make an off market takeover to acquire all of Alto’s shares at a cash price of 6.5c each.