This must be why we're down today...Monday, March 7, 2011
Copper miner Capstone Mining (CS.TO) says it's on the acquisition trail,willing to spend up to C$1 billion ($1.03 billion) for a rival as itseeks to double its copper production. Brad Mercer, vice-president forexploration, said on Monday the company is on the lookout for a "mergerof equals," and would consider a bid for a rival with assets that are atan earlier stage of development than its own. "I think first andforemost we are looking for a company that would double our production,so take us from 100 million pounds a year to something in the range of200 million pounds a year, and a merger of equals," he told Reutersafter a presentation at the PDAC prospectors and developers conventionin Toronto.