The exploration firm Vulcan Resources is in acquisition talks for two projects, the company has claimed.
According to the Perth-based group, "incomplete and confidential" discussions are ongoing, following a review of close to 30 potential acquisitions in the last three months, the Australian Associated Press reported.
It could be that Vulcan is currently locked in due diligence processes, which its financial and legal advisors could perform in a policed, online environment through an Ansarada secure virtual data room.
According to the news agency, the company said in a statement: "The board of Vulcan is focused on putting shareholders' cash to work.
"Vulcan is confident that [the] acquisition of a significant advanced project will lead markets to recognise the value within the company and lead to the company trading at a premium to its cash balance."
Elsewhere, the state-backed Chinese miner Minmetals could be looking at further acquisitions in Australia following its takeover of OZ Minerals, ABC's Inside Business reported.
