Australia's Zenith Minerals gains on funding offer from Aurenne Group

By Reuters News

** Shares of Australia's Zenith Minerals ZNC.AX rise as much as 6.7% to A$0.078, on track for their strongest session since September 4

** Minerals explorer receives non-binding indicative funding offer from Australian gold miner Aurenne Group Holdings

** According to the proposal, Aurenne has offered co A$5 million ($3.47 million) through either underwritten rights issue for existing shareholders or placement of new Zenith shares to Aurenne

** Zenith already has a takeover implementation deed in place with Forrestania Resources FRS.AX

** Zenith board has rejected Aurenne's proposal

** Stock down 15.3% YTD, including session's moves



($1 = 1.4418 Australian dollars)

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