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Gold/Mining/Energy : Copper - analysis
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To: Stephen O who wrote (1916)4/21/2008 2:37:02 PM
From: Cal Gary  Read Replies (1) of 2131
 
First Quantum to acquire Scandinavian Minerals

2008-04-21 09:43 ET - News Release

See News Release (C-FM) First Quantum Minerals Ltd

Mr. Clive Newall of First Quantam Minerals reports

FIRST QUANTUM TO ACQUIRE SCANDINAVIAN MINERALS

First Quantum Minerals Ltd. and Scandinavian Minerals Ltd. have entered into a definitive agreement pursuant to which a wholly owned subsidiary of First Quantum will acquire, by way of a court-approved plan of arrangement, all of the outstanding common shares of Scandinavian Minerals on the basis of $9 in cash plus one-100th of a common share of First Quantum for each common share of Scandinavian Minerals.

The implied value of the purchase price is $9.89 per Scandinavian Minerals share (based on the closing price of First Quantum shares on the Toronto Stock Exchange of $89.36 on April 18, 2008), representing a 41.3-per-cent premium to the closing price of Scandinavian Minerals shares on the Toronto Stock Exchange of $7 on April 18, 2008, and a 53.8-per-cent premium to the volume-weighted average trading price of the Scandinavian Minerals shares on the Toronto Stock Exchange of $6.43 for the 20 trading days ended April 18, 2008.

more....

SGL:

Contained Metal 

                Contained Metal (pounds) 
                Nickel     Copper 

Measured & Indicated   
0.1% Ni cutoff 1.4 billion 1.8 billion 
0.2% Ni cutoff 0.9 billion 1.3 billion 
Inferred   
0.1% Ni cutoff 2.6 billion 3.8 billion 
0.2% Ni cutoff 1.9 billion 2.9 billion 

Resources to 1,000m
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