Re: Quadra FNX - bidding war?
in response to
by
posted on
Dec 09, 2011 11:52AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
Looks like Poland's KGHM is keen on adding more Cu production even if the Quadra FNX deal doesn't go thru.
Poland - Factors to Watch on Dec 9
Here are news stories, press reports and events to watch, which may affect Poland's financial markets on Friday. ALL TIMES GMT (Poland: GMT + 1 hour):
KGHM
Europe's No.2 copper producer KGHM aims to be producing more than 700,000 tonnes of copper annually by 2018 to become a key global player on that market and may purchase another company to achieve that or if the announced Quadra FNX takeover goes nowhere, CEO Herbert Wirth tells Dziennik Gazeta Prawna.
PETROLINVEST
Poland's oil exploration group Petrolinvest bought a 40 percent stake in Eco Energy 2010, which owns four shale gas exploration licenses, and will pay for the purchase by issuing bonds for Eco Energy 2010, the company said in a statement.
PAK
Warsaw won't finish works on the issue prospectus of the ZE PAK, Poland's second-largest energy producer from lignite, until the end of this year, but aims to float the company in the first half of 2012, daily Parkiet reports.
COAL
Kompania Weglowa, the European Union's largest coal producer, this year will sell more of the commodity to the energy sector by some 2.5 million tones compared to earlier forecasts, Rzeczpospolita daily writes.
GRONICKI ON ZLOTY:
The Polish zloty may stand at around 4.33 against the euro on average in 2012 and 2013, an advisor of the country's central bank governor, Miroslaw Gronicki, said on Thursday.
NETIA
The Polish competition watchdog (UOKIK) has agreed to telecom operator Netia's takeover of Crowley Data Poland, it said in a statement on Thursday.
NOTE - For a diary of forthcoming events see and a calendar of east European economic indicators see .
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