• Most Popular
  • Most Shared

CHINAMINING-QUADRA

Mon Jan 12, 2009 10:40pm EST

Stocks

   

HONG KONG, Jan 13 (Reuters) - China Mining Resources Ltd (0340.HK) said it plans to increase its stake in Canada's Quadra Mining Ltd (QUA.TO) to a maximum of 19.9 percent from the current 4.02 percent.

China Mining has set a maximum investment target of HK$200 million ($25.79 million) in Quadra, exclusive of transaction costs, the mainland company said in a statement late Monday.

It will seek shareholder approval for the share purchase plan at market prices, through its unit Best Tone.

"The consideration for the further Quadra investment shall not exceed C$5.28 ($4.34) per Quadra share," it said.

(For full company statement, click: (here).

Quadra's shares closed at C$3.07 on Monday, down 13 percent.

At 0307 GMT in Hong Kong, China Mining was down 3.2 percent at HK$0.214.

China Mining shares resumed trade Tuesday morning after being suspended since Dec 22. ($1=HK$7.753) (Reporting by Nerilyn Tenorio, Editing by Jonathan Hopfner)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets