Lundin Mining Corp (LUN.TO)
Thu, May 17 2018
VANCOUVER/TORONTO The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources Ltd is designed to bag the Timok project in Serbia, but it had to bring on a partner to pick up Nevsun's Bisha mine in Eritrea.
VANCOUVER/TORONTO, May 17 The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset.
* CEO PETER KUKIELSKI SAYS HAS ENGAGED "TOTALLY", REPEATEDLY WITH LUNDIN MINING ON LUNDIN'S TAKEOVER PROPOSAL
* SHAREHOLDER M&G INVESTMENT MANAGEMENT SAYS "POSITIVELY INCLINED" TOWARD LUNDIN MINING, EURO SUN OFFER FOR NEVSUN
VANCOUVER, May 8 Nevsun Resources said on Tuesday that its board of directors had unanimously rejected a non-binding, unsolicited takeover proposal from Lundin Mining Corp and Euro Sun Mining, saying it was too low and had a "problematic structure".
BRIEF-Nevsun Board Rejects Euro Sun-Led Non-Binding Unsolicited Proposal Citing Inadequate Value And Problematic Structure
* NEVSUN BOARD REJECTS EURO SUN-LED NON-BINDING UNSOLICITED PROPOSAL, CITING INADEQUATE VALUE AND PROBLEMATIC STRUCTURE
Canadian miners Lundin Mining Corp and Euro Sun Mining Inc disclosed on Monday an offer made earlier to buy base metals company Nevsun Resources Ltd, which rejected the C$1.5 billion ($1.16 billion) proposal.
* LUNDIN MINING AND EURO SUN DISCLOSE PROPOSAL TO ACQUIRE NEVSUN RESOURCES
* LUNDIN MINING ANNOUNCES OFFER TO PURCHASE NOTES PURSUANT TO ASSET SALE COVENANT
* Q1 REVENUE $470.5 MILLION VERSUS I/B/E/S VIEW $478.3 MILLION