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Western Mining Group to buy Inter-Citic Minerals

Stockhouse Editorial
0 Comments| August 27, 2012

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Inter-Citic Minerals (TSX: T.ICI, Stock Forum) Monday said China’s Western Mining Group Co Ltd has agreed to buy Inter-Citic for $2.05 per share in cash, or a total consideration of $250 million, to expand its gold mining business.

The offer represents a premium of 41.4% to Inter-Citic’s closing stock price on Friday. Toronto-based Inter-Citic Minerals is an exploration and development company advancing its Dachang Gold Project in the People's Republic of China.



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