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Post by
millritemikeon Aug 30, 2016 8:04am
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FPsays Ivanhoe Mines to hire bank to explore options 2016-08-30 07:47 ET
In the News The Financial Post reports in its Tuesday, Aug. 30, edition that Ivanhoe Mines will look for advice after receiving unsolicited interest in the company and its projects from "significant mining industry participants" in Asia, Europe and Africa. The Post's Sean Craig writes that Ivanhoe has a market value of $1.42-billion. It will likely hire an investment bank to advise its board on options, including alternatives to any offers. Raymond James analyst Alex Terentiew says: "Ivanhoe has world class assets. But many companies get interest -- we've been hearing for years that there is private equity wanting to buy stuff and it rarely happens, in part because the valuation is often too low. On the other hand, the market has been in downturn for years, so if we're not at the bottom we're pretty close and that could be encouraging for deals, if not more partnerships." Earlier this month, Ivanhoe touted that its Kakula discovery, a major extension of the Kamoa copper deposit within its mining license area in the Democratic Republic of Congo, "could prove to be Africa's most significant
copper discovery." Ivanhoe's Kamoa project is believed to be the world's largest undeveloped high-grade copper deposit.
GLTA.