Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Sunday 12th of October 2008
Thursday, May 29, 2008

Khan Resources reaffirms offer for Western Prospector Group

Khan Resources reaffirms offer for Western Prospector Group

Khan Resources Inc. has responded to the Directors’ Circular issued by Western Prospector Group Ltd. on May 27, 2008 which recommended rejection of the offer to purchase 100% of the common shares of Western Prospector by Khan Resources.

Highlights

- Khan Resources reaffirms its Offer to purchase 100% of the common shares of Western Prospector for 0.685 of a Khan Resources common share for each common share of Western Prospector

- The Offer expires at 8:00 p.m. (Toronto time) on June 20, 2008, unless extended or withdrawn

- Terms of the Offer remain unchanged

- The Offer represents a premium of 34% based on the 20 day volume weighted average trading prices of Khan Resources and Western Prospector prior to announcement of Khan Resources’ Offer

CEO of Khan Resources, Martin Quick, commented, having reviewed the Western Prospector Directors’ Circular and listened to the Western Prospector conference call yesterday we did not see any information concerning Western Prospector that is not already publicly known and reflected in Western Prospector’s share price.

There is nothing in the directors’ response that would lead us to reconsider the pricing of our Offer. Khan Resources continues to believe that the Offer represents full and fair value, providing a significant premium and substantial value to Western Prospector shareholders. We are confident of the success of our bid, concluded Mr. Quick.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Khan Resources reaffirms offer for Western Prospector Group

Blackstone plans Rio takeover and break-up ...

Melkior closes sale of Otish interest to Kakanda ...

Rio pursues growth as BHP offer dismissed at too low ...

Kinross announces friendly combination with Aurelian ...

Rio’s China sales rocket ...

Latest Metals News:

Latest News  Copper drops $515 per tonne in London

Latest News  Copper gains $75 despite demand concerns

Latest News  Industrial metals suffer on economy concerns

Latest News  Precious metals prices climb on demand

Latest News  Gold gains on investor search for safety

Latest News  Copper prices gain on demand hopes

Latest News  EMED Mining acquires 100% of Andalucian copper mine

Latest News  Gold gains on safe-haven status

Latest News  Gold prices lower as equities recover

Latest News  Copper drops 17 cents in New York


Previous: « Condor receives final drill results for the Ocros project
Next: Metals prices fall with crude oil prices »

Visited 892 times, 4 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):