Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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%)

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Message: Discovery bid turns hostile
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Strange twist in the bid for Discovery Metals. A hostile bid from a Chinese company is unusual to say the least...Obviously copper deposits are in big demand..

'Cathay Fortune, the private equity group founded by Chinese billionaire Yong Yu, has taken a A$830m ($856m) takeover offer for Discovery Metals, the Botswana copper and silver miner, direct to shareholders.

In a statement, Mr Yu said the decision of Discovery’s board to refuse access to due diligence on “any reasonable basis” had left the company and its partner, the China-Africa Development Fund, with no choice but to launch a hostile takeover bid.'

http://www.ft.com/intl/cms/s/0/174bf7d4-1cb2-11e2-a63b-00144feabdc0.html#axzz2A89lMQC4

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