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Inmet prepared to let Petaqilla $110 million offer expire

Wednesday, October 17, 2012

Inmet Mining said it is prepared to let its $110 million offer for Petaquilla Minerals expire should the board of the Canadian gold producer continue to reject it.

Inmet said a deal with Petaquilla, which has interests in Panama, would not be material to the development of its own copper project in Panama.

Vancouver, British Columbia-based Petaquilla operates a surface gold processing plant at its Molejón project in south-central Panama. Inmet has an 80 percent interest in Cobre Panamá, one of the world's largest copper projects.

Source: Reuters