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http://tanzanianroyalty.blogspot.com/2011/04/tre-might-be-related-to-potential.html
The TRE short might be related to a Potential Takeover offer by Jinchuan for TRE or by another entity
Our friends at Jinchuan are rumored to be preparing a takeover offer for Lundin Mining.
Jinchuan is TRE's partner on the Kabanga nickel project.
The TRE short might be related to a potential takeover offer by Jinchuan or by another entity.
It could be the Arabs or Chinese buyers .... Who knows???
Lundin shares jump on Chinese bid report
TORONTO (miningweekly.com) – Shares in Lundin Mining were up 10% on Friday morning, after a Canadian newspaper reported that a Chinese-led consortium was preparing a takeover bid for the base-metals producer.
A group led by Jinchuan Group and including sovereign wealth fund China Investment Corporation, may make an offer for Lundin, the Globe and Mail reported, citing unnamed people familiar with the situation.
Shares in Lundin rose C$0,83 each, to C$9,17 apiece by 11:23 in Toronto.
The company said in late March it would consider strategic options, including potential deals, after breaking off a merger agreement with Inmet Mining.
CEO Phil Wright said at the time that the company did not see any “time pressure” to get a deal done.
Lundin issued a statement on Friday, reiterating that it is undertaking “a strategic process to explore options to create shareholder value”.
“Shareholders will be advised of any material developments in this regard,” the company said.
"There is no assurance that the strategic process will result in Lundin Mining entering into or consummating any transaction."
Lundin owns mines in Portugal, Spain and Sweden, and holds a minority interest in Freeport-McMoRan Copper & Gold's big Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo.
The Inmet deal was broken off after Lundin received a hostile takeover offer from Equinox Minerals. The company rejected the bid, and Equinox has since said it will withdraw the offer after agreeing to be acquired itself by Barrick Gold.
A group led by Jinchuan Group and including sovereign wealth fund China Investment Corporation, may make an offer for Lundin, the Globe and Mail reported, citing unnamed people familiar with the situation.
Shares in Lundin rose C$0,83 each, to C$9,17 apiece by 11:23 in Toronto.
The company said in late March it would consider strategic options, including potential deals, after breaking off a merger agreement with Inmet Mining.
CEO Phil Wright said at the time that the company did not see any “time pressure” to get a deal done.
Lundin issued a statement on Friday, reiterating that it is undertaking “a strategic process to explore options to create shareholder value”.
“Shareholders will be advised of any material developments in this regard,” the company said.
"There is no assurance that the strategic process will result in Lundin Mining entering into or consummating any transaction."
Lundin owns mines in Portugal, Spain and Sweden, and holds a minority interest in Freeport-McMoRan Copper & Gold's big Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo.
The Inmet deal was broken off after Lundin received a hostile takeover offer from Equinox Minerals. The company rejected the bid, and Equinox has since said it will withdraw the offer after agreeing to be acquired itself by Barrick Gold.
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