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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.

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