Rio Tinto reiterates its recommended all-cash offer of C$4.15 per share for Hathor Exploration
MONTREAL, Nov. 2, 2011 /CNW Telbec/ - Rio Tinto today reiterated its friendly all-cash offer of C$4.15 per common share for Hathor Exploration made on 19 October 2011.Rio Tinto's offer represents a premium of more than 55 per cent to Hathor's unaffected closing price on 25 August 2011. It is also a premium of approximately 11 per cent to Cameco's unsolicited offer of C$3.75 per common share, which was extended until 14 November 2011.
Rio Tinto Energy chief executive Doug Ritchie said 'Our expertise in exploration, innovative mining techniques, technology and commitment to sustainable development will complement and build on the strong technical foundation established by Hathor at Roughrider.'
Rio Tinto intends to accelerate the investigation and assessment of Hathor's exploration properties to unlock their full potential, consistent with global safety and community standards. Rio Tinto's investments in Saskatchewan will support the diversification and development of the regional economy, building on its significant presence in Canada.
Hathor shareholders who have tendered their shares to the Cameco offer can withdraw those shares at any time before the 14 November 2011 expiry and tender them to the Rio Tinto bid by 30 November 2011 by contacting Laurel Hill Advisory Group on +1-877-452-7184.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
RIO TINTO PLC
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