China's Cathay resumes pursuit of Discovery Metals
Chinese private equity firm Cathay Fortune Corporation (CFC) has made a renewed takeover bid for Australia-listed mining company Discovery Metals. The offer is the latest development in ongoing spat between CFC and Discovery Metals, whose principal asset is the Boseto Copper project in Botswana.
According to a regulatory filing, the new proposal is worth A$170-195 million or A$0.35-0.40 a share. However, CFC claims the price is not binding and could be revised. CFC, which is 75%-owned by Chinese...
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