SYDNEY, AUSTRALIA: OreCorp Limited has announced receiving a revised takeover offer from Perseus Mining Limited. The new proposal suggests an increased bid of A$0.575 per share.

The offer is contingent upon the OreCorp Board’s recommendation post fulfillment of specific conditions outlined in the Target’s Statement.

Major shareholders have signaled their approval of the amended offer. OreCorp has also informed Silvercorp Metals Inc. of the revised bid, triggering a five-day period for Silvercorp to match or improve the offer.