reports
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.
Update: Buy now, pay later
Duluth’s PFS highlights the Twin Metals Minnesota (TMM) project as an economically viable Tier 1 asset at reasonable long-term commodity price forecasts. With Antofagasta recently deciding not to increase its ownership and reverting to a conventional 40% funding equity interest, options for TMM’s development lead to an increased focus on the Barclays strategic review currently underway. Finding a suitable Tier 1 asset developer capable of funding multi-billion dollar projects is limited to a...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.