Echo Resources Limited

Equities

EAR

AU000000EAR9

End-of-day quote Australian S.E. Other stock markets			5-day change	1st Jan Change
- ^AUD	-.--%		-1.52%	+116.67%

2019	Northern Star Resources Limited completed the acquisition of remaining 78.3% stake in Echo Resources Limited from Alistair Cowden, Anthony McIntosh, Mark Hanlon, Victor Rajasooriar and others.	CI
2019	Echo Resources Limited(ASX:EAR) dropped from S&P/ASX Emerging Companies Index	CI

Metaliko Resources Limited completed the acquisition of Echo Resources Limited in a reverse merger transaction.

January 09, 2017

Metaliko Resources Limited (ASX:MKO) entered into a takeover bid implementation agreement to acquire Echo Resources Limited (ASX:EAR) in a reverse merger transaction on September 27, 2016. Under the terms of the transaction, Echo will offer 1 new Echo share for every 2.5 Metaliko shares. Following successful implementation of the Offer, Metaliko is expected to become a wholly owned subsidiary of Echo, with current Echo and Metaliko shareholders holding 49.6% and 50.4% respectively of the enlarged entity. The offer period will commence on October 31, 2016 and end on December 2, 2016, unless extended in accordance with the Corporations Act. Post-transaction, Echo Resources will expand its Board to five members. Barry Bolitho, existing Echo Chairman, will remain as Chairman of the merged entity. Simon Coxhell will remain as Director and Chief Executive Officer. Anthony McIntosh will remain in his current role as Non-Executive Director. Metaliko will appoint two Non-Executive Directors, Robin Dean and Mark Hanlon. The transaction is subject to 90% minimum acceptance condition, no regulatory action, Echo's shareholder approval, approval by Board of Metaliko and other customary conditions. Echo’s Board has advised that they intend to recommend to Echo shareholders that they vote in favor of the Echo Shareholder Approval. The meeting is scheduled on November 11, 2016 to consider the transaction. The transaction was unanimously approved by the Board of Metaliko. The independent expert has concluded the proposed merger with Metaliko Resources is fair and reasonable to Echo shareholders. The transaction is expected to close on December 23, 2016. The shareholders of Echo Resources approved the transaction on November 11, 2016. As on December 5, 2016 Echo Resources Limited (ASX:EAR) received acceptances under its takeover offer in Metaliko Resources Limited (ASX:MKO) for 67% stake. As on December 12, 2016 Metaliko Resources Limited (ASX:MKO) extended the closing date for transaction to January 10, 2017. As of January 3, 2017, the acquisition offers become unconditional. Advanced Share Registry Limited acted as the registrar, BW Equities Pty Ltd. acted as the financial advisor, Steinepreis Paganin acted as the legal advisor and Sherif Andrawes, Adam Myers and Stefan Collins of BDO Corporate Finance acted as financial advisor for Echo Resources and provided fairness opinion. CSA Global Pty Ltd will act as Independent Specialist to the Independent Expert BDO Corporate Finance. Advanced Share Registry Limited received advisory fee of AUD 0.008 million, BW Equities Pty Ltd. received advisory fee of AUD 1.4 million, Steinepreis Paganin received advisory fee of AUD 0.1 million. Metaliko Resources Limited (ASX:MKO) completed the acquisition of Echo Resources Limited (ASX:EAR) in a reverse merger transaction on January 10, 2017. Echo Resources Limited (ASX:EAR) received acceptances under its takeover offer in Metaliko Resources Limited (ASX:MKO) for 94.88% stake and remaining stake will be acquired through compulsory acquisition notices.

Latest news about Echo Resources Limited

Northern Star Resources Limited completed the acquisition of remaining 78.3% stake in Echo Resources Limited from Alistair Cowden, Anthony McIntosh, Mark Hanlon, Victor Rajasooriar and others.	19-11-10	CI
Echo Resources Limited(ASX:EAR) dropped from S&P/ASX Emerging Companies Index	19-11-04	CI
Echo Resources Limited Announces the Cessation of Timothy Marcus Stephen Hanlon as Director	19-10-16	CI
Echo Resources Limited Provides an Exploration Update for the Yandal Gold Project in Western Australia	19-10-15	CI
Echo Resources Limited Announces Management Changes	19-10-15	CI
Metaliko Resources Limited Reports Earnings Results for the Full Year Ended June 30, 2019	19-09-13	CI
Northern Star Resources Limited entered into a bid implementation agreement to acquire remaining 78.3% stake in Echo Resources Limited from Alistair Cowden, Anthony McIntosh, Mark Hanlon, Victor Rajasooriar and others for approximately AUD 180 million.	19-08-26	CI
Echo Resources Limited Provides Exploration Update for the Yandal Gold Project in Western Australia	19-08-25	CI
Echo Resources Limited Announces the Appointment of Alistair Cowden as Director Effective from 1 August 2019	19-08-04	CI
Echo Resources Limited Announces the Cessation of Barry Bolitho as Director	19-08-01	CI
Echo Resources Limited Announces Executive Changes	19-07-31	CI
Echo Resources Limited Provides an Exploration Update for the Yandal Gold Project	19-07-10	CI
Echo Resources Limited Provides an Updated Mineral Resource Estimate for the 70% Owned Mt Joel Project	19-06-24	CI
Echo Resources Limited Announces Exploration Growth Strategy of Yandal Gold Project	19-04-28	CI
Echo Resources Limited Provides Update in Relation to the Revised Bankable Feasibility Study	19-03-26	CI
Echo Resources Limited Announces Unaudited Consolidated Earnings Results for the Half Year Ended December 31, 2018	19-03-14	CI
Echo Resources Limited Executes Native Title Agreement with Tarlka Matuwa Piarku (Aboriginal Corporation)	19-03-13	CI
Echo Resources Limited Receives Mining Approval from the West Australian Department of Mines, Industry Regulation and Safety	19-03-04	CI
Echo Resources Limited Announces Outstanding Drilling Results At the Mt Joel Gold Project	19-02-06	CI
Echo Resources Limited Announces Appointment of Richard Hill as Chief Financial Officer	19-01-23	CI
Echo Resources Limited Announces Latest Results from Air Core Drilling at Mt Joel Gold District Within the Yandal Gold Project	18-12-20	CI
Echo Resources Limited Announces Management Changes	18-12-17	CI
Echo Resources Limited announced that it has received AUD 4 million in funding from MACA Limited, Northern Star Resources Limited	18-12-16	CI
Echo Resources Limited announced that it expects to receive AUD 4 million in funding from MACA Limited, Northern Star Resources Limited	18-12-05	CI
Echo Resources Limited Announces Exploration Results at the Mt Joel	18-11-29	CI

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Company Profile

Echo Resources Limited is an Australia-based company engaged in exploration for mineral resources. The Company is focused on Gold in the Yandal Belt region of Western Australia. The Yandal Gold Project is located in the northern part of the Eastern Goldfields, and hosts the Julius Gold Project, as well as a range of prospective targets. The Company holds approximately 915 square kilometers tenement package across the Yandal Gold Province. The Julius Gold Project is located approximately 450 kilometers north of Kalgoorlie and over 70 kilometers east of Wiluna. The Zaphod Prospect is located within the southern part of the tenement package and within approximately 10 kilometers of multi-million ounce Gold deposits. The Company has also identified a range of regional targets at the Yandal Project. The regional prospects include Tipperary, Wimbledon, Bill's Find, Orpheus and Shady Well.

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