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CORRECTED - CORRECTED-Herald Resources says backs Antam, Zhongjin bid

Sun Mar 9, 2008 9:58pm EDT
 
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(Corrects company name to Shenzhen Zhongjin Lingnan in first paragraph)

SYDNEY, March 10 (Reuters) - Australia's Herald Resources Ltd (HER.AX: Quote, Profile, Research, Stock Buzz) on Monday recommended shareholders accept an around A$500 million ($463 million) bid by Indonesian state-controlled mining group PT Antam ANTM.JK and Chinese miner Shenzhen Zhongjin Lingnan Nonfemet Co Ltd 000060.SZ.

Herald, which owns a zinc and lead project in Indonesia, said that shareholders should wait until near the end of the offer period in a case a superior offer emerges.

The offer from the two companies, through their vehicle Tango Mining, trumped an earlier agreed bid from Indonesia's PT Bumi BUMI.JK. (Reporting by Jonathan Standing)

 

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