Oct 20 (Reuters) - Octagonal Resources Ltd ORS.AX :
* Proposal to privatise company ORS.AX
* Received an offer from Gandel Metals Pty Ltd
* Gandel metals has also provided loan funds to Octagonal totalling $1.3 million, repayable by 1 December 2015
* The total consideration is the equivalent to 2.11 cents per share
* Source text for Eikon ID:nASX7MDtQ3