Update: Duluth's JV partner Antofagasta buys TMM
Antofagasta has made an offer to buy all of Duluth Metal’s outstanding shares at C$0.45 each in cash. All things considered this is a good deal for Duluth’s shareholders; Antofagasta is one of the few majors that could have the ability to develop the Twin Metals Minnesota (TMM) project, a Tier 1 asset. A decision as to whether a plan of arrangement on the takeover bid will be made by mid-November. The shareholder approval meeting is estimated to be in early January 2015.
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