Adriatic Metals, a precious mining group of metals, is in the first stages of buyout talks that could contain the last company listed in London to succumb to a tenderer abroad.
Sky News understands that Adriatic Metals is in the first stages of discussions with Dundee Precious Metals, a peer listed in Toronto.
The status of talks and other key details, including any price of offer during negotiations, were not clear on Tuesday.
A person close to the situation said it was not clear if a formal offer would emerge.
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Assessed at around 610 million pounds sterling, Adriatic has a market capitalization about a third of that of Dundee, which is present in the Balkans.
With a conventional takeover bonus taken into account, any offer could enhance the objective at more than 700 million pounds sterling, according to bankers.
Adriatic produces copper, gold, lead, silver and zinc from mining operations recently developed in Bosnia and Herzegovina.
The company is led by the CEO Laura Tyler, a former senior BHP executive which is one of the female owners of the world mining industry.
The actions listed in London in Adriatic Metals were almost 6% higher in trade Tuesday afternoon in the middle of speculation on increasing auctions.
The two companies would have organized talks similar to those of last year, although they do not progress in any form of public confirmation.
An Adriatic spokesperson, who is also cited in Australia, refused to comment, while Dundee could not be joined to comment.