First Quantum today announced that its wholly-owned subsidiary, Inmet Mining Corporation, has commenced an offer to purchase Inmet Mining Corporation's 8.75% Senior Notes due 2020 and 7.50% Senior Notes due 2021 upon the terms and conditions set forth in the Change of Control Offer dated April 19, 2013, at a price in cash equal to 101% of the [...]
S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices: The shareholders of Inmet Mining have accepted a takeover bid from First Quantum. Inmet Mining shareholders will receive $CDN72.00 in cash and/or shares of First Quantum Minerals for each share held. Inmet Mining will be removed from the S&P/TSX [...]
First Quantum Minerals and its wholly-owned subsidiary FQM (Akubra) Inc. today announced that, as at 5:00 p.m. on April 1, 2013, a total of 65,206,044 common shares of Inmet Mining, representing 92.74% of the outstanding Inmet shares, had been validly tendered to the Offeror's offer to acquire all of the outstanding shares of Inmet. The Offeror has [...]
Inmet Mining today announces that its Board of Directors recommends that all Inmet shareholders tender their shares to the extended offer on or before the deadline of 5:00 p.m. on April 1, 2013 in order to facilitate prompt receipt of the offer consideration. This decision follows the announcement by First Quantum Minerals that 85.5% of the [...]
First Quantum Minerals and its wholly-owned subsidiary FQM (Akubra) Inc. today announced that, as at 11:59 p.m. on March 21, 2013, a total of 60,120,405 common shares of Inmet Mining, representing 85.5% of the outstanding Inmet shares, had been validly tendered to the Offeror's offer to acquire all of the outstanding shares of Inmet. The Offeror [...]
First Quantum Minerals today announced that, by delivery of a written notice to Computershare Investor Services Inc. prior to 11:59 p.m. on March 11, 2013, First Quantum varied and extended its offer to acquire all of the outstanding shares of Inmet Mining. The Offer will now be open for acceptance until 11:59 p.m. on March 21, 2013, unless further [...]
Inmet Mining today posted an open letter to its shareholders regarding the unsolicited offer from First Quantum Minerals Ltd. to acquire Inmet. The full text of the letter, which is available online at inmetmining.com is as follows: Reject the First Quantum offer. Do not tender your shares.
As of February 17, 2013, Inmet provided First Quantum with full due diligence access, including a Cobre Panama project site tour and access to key personnel. Despite its communication to Inmet shareholders stressing the link between due diligence and its ability to increase the offer, First Quantum has not increased its offer to date.
Inmet Mining and its wholly owned subsidiary, Minera Panama, and Petaquilla Minerals with certain of its wholly owned subsidiaries are pleased to announce the signing of a binding term sheet outlining the agreement of the companies relating to aggregate procurement, land access and use, settlement of certain claims, waiver of royalties to be [...]
Earnings from operations were $112 million compared to $89 million in the fourth quarter of 2011. This increase is due to the strong performance of our operations. Earnings were negatively affected by the timing of shipments at Cayeli and finalization adjustments, together totalling $11 million for the quarter or $0.15 per share.
Inmet announced today that its Board of Directors has decided to waive the application of its Shareholder Rights Plan, effective as of 3:00 pm ET on February 27, 2013. As such, the Ontario Securities Commission hearing scheduled for February 25, 2013 to address the application by First Quantum Minerals to cease trade the Rights Plan will no longer [...]
Inmet Mining today reports that a hearing date has been set by the Ontario Securities Commission regarding the Inmet shareholder rights plan on February 25, 2013. This hearing will address the application by First Quantum Minerals to the OSC to cease trade the Rights Plan. The expiry date of the First Quantum offer to acquire Inmet (the "First [...]