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Deals this week: Inmet, Endomines, Liberty Mines and more

30 November 2012

Canada-based copper and zinc mining company Inmet Mining Corporation has declined a proposal from First Quantum Minerals to acquire the company for C$2.46bn.

The company rejected the unsolicited non-binding and conditional proposal, valued at C$70 a share, on the basis that the deal is not in the best interests of its shareholders.

Nordic mining and exploration company Endomines has divested all shares in its wholly owned and newly established subsidiary Kuovila Limestone to Finnish company Juuan Dolomiittikalkki.

The agreement entails a total cash compensation of €180,000 to Endomines in addition to a royalty of 1% of the sales revenue from the limestone deposits.

Nickel producer Liberty Mines has exercised its options to purchase a 100%-interest in Croxall properties in the Shaw Dome nickel area.

The property, covering 1,760ha, is in close proximity to the company's Redstone mill, located approximately 10km south-west of Timmins in Ontario.

Viking Gold Exploration has signed a non-binding agreement to acquire Canadian mining exploration company Trilogy Mining Corporation.

Under the agreement terms, Viking Gold will offer 15,000,000 shares in the company for 100% of the shares in Trilogy.

Klondike Silver, which holds several silver deposits in Canada, has purchased an additional six past producing silver-lead-zinc mine sites in the Silver Slocan Mining District of south-eastern British Columbia.

The company acquired seven tenures representing 1,226ha, bringing the total portfolio in the region to 16,544ha.