Xanadu Mines Limited (ASX:XAM), a copper and gold exploration company focused on the Kharmagtai project in Mongolia, has received notification from Bastion Mining Pte. Ltd. regarding an extension to its off-market takeover bid. Bastion is seeking to acquire all fully paid ordinary shares in Xanadu. The announcement, dated July 24, 2025, confirms that Bastion has formally varied the offer, extending the offer period initially outlined in the bidder’s statement dated May 27, 2025.
The revised closing date for the takeover offer is now 7:00 pm (Sydney time) on August 5, 2025, unless further extended or withdrawn. This decision was communicated to the Australian Securities & Investments Commission (ASIC), ASX Limited, and all Xanadu shareholders. Bastion has lodged a copy of the notice with ASIC on July 24, 2025.
The extension involves replacing “29 July 2025” with “5 August 2025” wherever the closing date of the offer is mentioned in the Bidder’s Statement, including the acceptance forms. All related announcements are available on the ASX website. Philip Tan Ling Kwok, Director of Bastion Mining Pte. Ltd., approved the notice.
