09:55 AM EST - Teranga Gold Corp. : learned this morning that Oromin Explorations Ltd. is advising its shareholders to hold off on any decisions about a recent takeover offer from Teranga. Last month, Teranga made an unsolicited proposal to Oromin shareholders, offering 0.582 of a Teranga share for each Oromin share held. At the time, the Toronto-based miner said the value of the offer was a 50% premium on a 20-day volume-weighted average trading price of Oromin shares as of May 31. In a directors' circular, Oromin said the board of directors is reviewing the offer, and has not made any official recommendation. Teranga Gold Corp.
shares T.TGZ are trading down $0.02 at $0.57.
