Inmet Mining Corporation (TSX:IMN) is urging shareholders to reject First Quantum Minerals’ offer.
As quoted in the press release:
- As previously communicated, Inmet is currently engaged in constructive dialogue with a potential strategic investor to purchase a minority stake in Cobre Panama at premium values to Inmet’s current analyst consensus net asset values and at a significant premium to the value implied by the First Quantum offer.
- A transaction with a minority partner will further de-risk Cobre Panama. It will provide an upfront cash payment as well as a source of capital to fund the partner’s share of Cobre Panama capital costs going forward.