Related News
Hanlong offers US$153m to buy uranium firm in Namibia
By Richard Fu |
July 11, 2011, Monday
|
Online Edition
Online Edition
CHINA'S Sichuan Hanlong Group has offered A$143 million (US$153 million) to buy Australian uranium developer Bannerman Resources Ltd, eyeing its assets in Namibia.
The bid, if successful, would give Hanlong access to uranium reserves in Namibia, the south African country considered to be a premier uranium mining region. Bannerman's principal asset is its 80 percent-owned Etango uranium project.
Hanlong's bid of 61.2 Australian cents a share represents a 59 percent premium to Bannerman's close on Friday.
Hanlong's approach has been timed to take advantage of Bannerman's low share price which has been adversely affected by issues such as Japan's Fukushima nuclear disaster and the weak global equity markets, Bannerman said in a statement today.
Privately-owned Hanlong has been on a global buying spree in the mining and mineral sector in recent two years and is already the biggest shareholder of Australian iron ore explorer Sundance Resources Ltd.
The bid, if successful, would give Hanlong access to uranium reserves in Namibia, the south African country considered to be a premier uranium mining region. Bannerman's principal asset is its 80 percent-owned Etango uranium project.
Hanlong's bid of 61.2 Australian cents a share represents a 59 percent premium to Bannerman's close on Friday.
Hanlong's approach has been timed to take advantage of Bannerman's low share price which has been adversely affected by issues such as Japan's Fukushima nuclear disaster and the weak global equity markets, Bannerman said in a statement today.
Privately-owned Hanlong has been on a global buying spree in the mining and mineral sector in recent two years and is already the biggest shareholder of Australian iron ore explorer Sundance Resources Ltd.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
