Offers continue to roll in for Jumbuck

A three-way tug-of-war has erupted over the Jumbuck gold project, in Western Australia, with owner Tyranna Resources fielding offers from fellow listed Marmota, Alliance Resources and Syngas.

Tyranna at the end of June inked a formal agreement with Syngas to divest of the Jumbuck gold project for A$950 000, opting to back the Syngas offer in lieu of a A$1.3-million counter offer from Marmota, which consisted of A$1-million in cash and an in-specie payment of A$300 000 worth of Marmota shares.