There has been a flurry of takeover bids recently, with targets ranging from small gold prospectors, such as Venus Metals Corporation Ltd (ASX: VMC), to major companies like logistics provider Qube Holdings Ltd (ASX: QUB).

And in the case of the latter, and fellow takeover target National Storage REIT (ASX: NSR), there's still the potential to make short-term gains, given each company's share price is still trading at a discount to the offer price.

Qube trading at a decent discount

In the case of Qube, Macquarie Asset Management has launched a conditional bid for the company at $5.20 per share.

That was a significant premium to the $4.07 at which the company's shares were trading at the time of the bid.

And while the shares have consistently traded higher than levels before the bid, they are still only changing hands for $4.64, meaning canny investors could make a windfall gain – should the bid actually go through.

Keep in mind that it is still conditional on satisfactory due diligence and a unanimous recommendation from the Qube board.

The board has granted Macquarie a period of exclusive due diligence, having previously negotiated for a higher price from Macquarie, and said at the time the possible deal was made public that, in the absence of a better offer, they do expect to endorse the bid.

Interestingly, UniSuper, which is a significant shareholder in Qube, has increased its shareholding in the company from 5.25% to 9.95% since the potential takeover bid was announced.

National Storage also in play

In the case of National Storage, the company was forced to divulge in late November that it had been approached by Brookfield Property Group and GIC Investments about a potential takeover, priced at $2.86 a share. This followed an article in The Australian hinting at the possible deal.

Like the Qube bid, the National Storage takeover offer is at this stage non-binding and conditional, but investors once again could make gains if it were to go through.

The National Storage bid is priced at $2.86, minus the likely 6-cent dividend to be paid by the company, which compares with the current share price of $2.71.

That implies a much lower premium of just 3.3% for investors who buy in now; however, some might be betting that a higher offer is in the wings.

In the case of Venus Metals Corporation, that company's share price is actually trading higher than the 17-cent-per-share offer price from Queensland coal billionaire Chris Wallin's company QGold.

QGold's offer is an on-market offer, meaning the company is actively buying shares at the offer price; however, Venus stated in a recent ASX announcement that it appeared the company was buying shares at higher prices, between 18 cents and 19 cents, in recent sessions.

Venus said this week it was currently preparing a target's statement, which would be released to the ASX on December 8.

Venus shares closed Thursday's trading session at 20 cents, well above the on-market bid price.

The post These two takeover targets are still trading below their potential bid prices appeared first on The Motley Fool Australia.

Mr Wallin's private company, QGold, is offering 17 cents per share for Venus in an on-market bid, with the target company's shares soaring past the bid price to hit 18.5 cents on Monday morning.

Trade in the shares was robust, with 2.8 million shares changing hands by early afternoon compared with the usual daily volume of slightly more than 200,000 shares.

Large stake already owned

Venus said in a statement to the ASX that QGold would keep the offer open until 16 January 2026, and had already acquired a stake of about 26.4% in Venus.

A bidder's statement lodged with the ASX on Monday said QGold was a private company that currently holds exploration and mining permits in Queensland and Western Australia.

Qgold is also a major shareholder in Rox Resources Ltd (ASX: RXL), owning a 15.8% stake in the company, which Venus itself also owns a 6.9% stake in.

Mr Wallin is also the founder and managing director of QCoal Pty Ltd, which mines coal in Queensland's Bowen Basin across four deposits and also at the Blackwater coal mine in Queensland, producing about 10 million tonnes of coal per year.

Venus, according to its website, "holds a significant and wide-ranging portfolio of Australian gold, copper, base metals, lithium, titanium, and vanadium exploration projects in Western Australia, in addition to owning a 1% royalty over the Youanmi Gold Mine and being a substantial shareholder of Rox Resources Limited''.

In its most recent quarterly report, Venus stated that it had updated the mineral resource estimate at its 90%-owned Bellchambers gold project in Western Australia, with the resource now standing at 31,400 ounces of contained gold.

The company also explained that it had completed metallurgical test work on samples from the project.

Key findings from the leach test work are Bellchambers ore is highly amenable to conventional processing via gravity recovery followed by cyanide leaching. Rapid and high recoveries confirm the mineralisation is non-refractory and with minimal deleterious elements. Both oxide and sulphide material demonstrate strong gravity response and high leach recoveries, supporting a low-risk, conventional gold processing route.  

Venus was valued at $33.3 million at the close of trade on Friday, when the shares closed at 17 cents. Venus shares have improved from lows of 5.6 cents over the past year.

The post Queensland coal billionaire targets junior miner for takeover appeared first on The Motley Fool Australia.

In morning trade, the All Ordinaries Index (ASX: XAO) is up a healthy 0.38%.

But this mining stock is leaving those gains in the dust.

Any guesses?

If you said Rox Resources Ltd (ASX: RXL), give yourself a gold star.

Rox Resources entered a trading halt on Friday pending today's announcement.

The gold miner's shares closed Thursday trading for 14.5 cents each. This morning, the Rox Resources share price shot as high as 23.5 cents, up a whopping 62%. At the time of writing, it remains up an impressive 48% at 21.5 cents a share.

Here's what's driving investor interest in the ASX mining share today.

ASX mining share rockets on bonanza gold strike

The Rox Resources share price is off to the races after the company reported some very promising initial drilling results. Those come from the reverse circulation (RC) and diamond drilling (DD) programs at its Youanmi Gold Project, located in Western Australia.

The announcement was made in conjunction with its joint venture partner, Venus Metals Corp Ltd (ASX: VMC). The Venus Metals share price is up 11% on the news.

The ASX mining shares reported that the first of a series of holes at Youanmi returned continuous bonanza grades in RC drilling.

The release highlights results of 28 metres at 34.81grams of gold per tonne from 204 metres including:

• 18m @ 51.96g/t from 207m, including;
• 10m@ 79.55g/t from 211m, including;
• 3m @ 138.07g/t from 218m

The miner said the results open up a new near-mine area for exploration and potential high-grade resource growth. With the true widths currently unconstrained, follow-up drilling is planned to determine the orientation and dip direction of the discovery.

Commenting on the initial drill results sending the ASX mining share soaring today, Rox Resources managing director Robert Ryan said:

Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained.

The exceptional grade and continuous high-grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.

Rox Resources share price snapshot

With today's big intraday leap factored in, the ASX mining share is up 19% in 2023. As you can see in the chart below, over the past 12 months the Rox Resources share price remains down 51%.

The post Guess which ASX mining share just leapt 62% on a 'bonanza gold' find appeared first on The Motley Fool Australia.