Venus Metals (ASX:VMC) has received an on-market takeover bid by privately held QGold for all the shares in Venus that it does not already own, at a price of $0.17 per share.
The offer will be open until at least close of trading on 16 January 2026.
Venus notes the offer price represents a nil premium to the last closing price of shares, and implies a value of $33.34 million for the target.
Shareholders have been advised to take no action until they receive the Venus directors’ formal recommendation.
Managing Director Matt Hogan commented says Venus has a strong book of assets including its shareholding in Rox Resources (ASX:RXL) with a current market value of $18.56 million and its 1% net smelter royalty over Rox’s Youanmi Project, independently valued at $25.40 million in Venus’ 30 June 2025 accounts.
The company also has the Bell Chambers gold deposit with mineral resource of 30,800 ounces, as well as the Yuinmery calcrete deposit with a measured mineral resource of 262,343 tonnes.
“We believe the strategic importance of our asset portfolio will continue to grow over time,” Hogan adds.
“That view is obviously shared by QGold, which has a disclosed voting power of 26.40% in Venus at the date of the offer, and is also a major shareholder in Rox, having also subscribed for $25 million worth of Rox shares in the second tranche of the Rox placement.”
Write to Adam Orlando at Mining.com.au
Images: Venus
