News blog

International Mining and Infrastructure Corporation

• BY: Andrew Hore |
• POSTED: 24/06/2013 |

International Mining and Infrastructure Corporation (IMIC) has finally launched its bid for Afferro Mining Inc.

The recommended bid of 120p a share – 80p in cash and a listed two-year, 8% unsecured convertible of 40p – values Afferro at $200m. Afferro’s project portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects. Nkout is the core project.

At 32.75p a share, IMIC is valued at £19.7m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2013_45.pdf