Afferro Mining Inc AFRIF

Friendly Jindal Talks End

[LTGoldBull]

The friendly Jindal talks end, AFF sells on AIM

https://www.newswire.ca/en/story/1110779/afferro-mining-inc-update-on-discussions-with-potential-strategic-partners

Jindal's view,

https://www.thehindubusinessline.com/companies/jindal-steel-drops-plan-to-buy-afferro-mining/article4389028.ece?homepage=true

So Jindal out? Do not rule out Hostile Attempts for AFF or counter bids when other offers appear.

Cheers, Mark

[LTGoldBull]

So the freindly Jindal discussions have ended. Apparently, their offer was unacceptable, being to low. (SP now 75p?) "The company said in a statement that it has "withdrawn discussions of acquisition" for Afferro Mining and the mutually exclusivity period has ended without any conclusive outcome. The deal was estimated to be about $ 500-600 million. "We have already shared our

[LTGoldBull]

Also Reported by Reuters US Edition Thursday, 7 Feb 2013 03:06am EST The Economic Times reported that Jindal Steel And Power Ltd has dropped the plan to acquire Cameroon focused iron ore firm Afferro Mining Inc due to low grade magnetite reserves of the African company and high costs involved in beneficiation of the ore. The Company said in a statement that it has withdrawn discussions of