Emérita Resources, listed in Canada, has informed the market about Denarius's announcement on April 21, indicating an intent to increase its offer to acquire 100% of its shares. However, Emérita's management has clarified that, to date, no additional written proposal has been received following the initial offer on April 13.
The initial offer, deemed a hostile takeover by Emérita as it was unsolicited and not agreed upon by its board, proposed a 15% premium over the closing price of April 10, 2026, through an all-share exchange. In light of this, Emérita's board of directors is maintaining a cautious stance.
“"Emérita's board of directors states that, in consultation with its advisors, it will evaluate any new developments when a concrete proposal exists and will determine the course of action it deems most appropriate for the interests of the company and its shareholders."
Emérita's management has reiterated that there is no certainty that the initial offer, a potential improvement, or any other strategic operation will materialize or be supported by the board. The company emphasizes that its market communication fulfills its obligations as a listed entity and does not imply the opening of a sale process.
Denarius's interest is focused on Emérita's assets in Andalusia, particularly the Iberian Belt West project in the province of Huelva. This project, considered the group's main industrial asset, includes polymetallic deposits with zinc, copper, lead, silver, and gold resources. It has been declared a strategic investment for Andalusia, with an investment exceeding 300 million euros.
Furthermore, Emérita is advancing the development of Nuevo Tintillo in the province of Seville. The research permit for this project was recently renewed for three years, covering 227 mining rights over nearly 6,900 hectares in the Iberian Pyrite Belt. Work has identified new mineralized areas with gold and silver, strengthening the company's asset base in the region.
