Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/6358" target="_blank" data-smartkarma-citation="entities:6358:1">Zijin Mining Group Co Ltd H (2899 HK)</a>/<a href="https://www.smartkarma.com/entities/24628" target="_blank" data-smartkarma-citation="entities:24628:1">Zijin Mining Group (601899 CH)</a>  <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0906/LTN20180906025.pdf" target="_blank">announced</a> a friendly, all-cash bid for <a href="https://www.smartkarma.com/entities/25784" target="_blank" data-smartkarma-citation="entities:25784:1">Nevsun Resources (NSU CN)</a> at C$6/share, a 26% premium to the unsolicited &amp; hostile bid from <a href="https://www.smartkarma.com/entities/25356" target="_blank" data-smartkarma-citation="entities:25356:1">Lundin Mining (LUN CN)</a> of C$4.75/share, and a 57% premium to the undisturbed price prior to Lundin’s <a href="https://www.nevsun.com/news/2018/may8/" target="_blank">first announcement</a> in April.  
The deal implies an equity value of C$1.86bn for Nevsun. The transaction requires a minimum of 66⅔% of Nevsun’s 302.6mn outstanding shares being tendered, including those held directly or indirectly by Zijin and its affiliates. Zijin currently owns 3.2mn shares or 1.1% of shares out.
Regulatory approvals required include: Canada's Investment Canada Act and the Competition Act, and China's National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Foreign Exchange. Nevsun's CEO Peter Kukielski does not foresee any specific bottlenecks in securing these approvals. This offer appears priced to complete.

Zijin Mining Group Co Ltd H (2899 HK)/Zijin Mining Group (601899 CH)  announced a friendly, all-cash bid for Nevsun Resources (NSU CN) at C$6/share, a 26% premium to the unsolicited &amp; hostile bid from Lundin Mining (LUN CN) of C$4.75/share, and a 57% premium to the undisturbed price prior to Lundin’s first announcement in April.  
The deal implies an equity value of C$1.86bn for Nevsun. The transaction requires a minimum of 66⅔% of Nevsun’s 302.6mn outstanding shares being tendered, including those held directly or indirectly by Zijin and its affiliates. Zijin currently owns 3.2mn shares or 1.1% of shares out.
Regulatory approvals required include: Canada's Investment Canada Act and the Competition Act, and China's National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Foreign Exchange. Nevsun's CEO Peter Kukielski does not foresee any specific bottlenecks in securing these approvals. This offer appears priced to complete.

Canada

Nevsun Resources Ltd. is the operator of the Bisha Mine which began construction in 2008 and commercial production in 2011. The mine produced gold-silver dore until 2013 when the product switched to copper in concentrate and will expand to also produce Zinc concentrates.

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Nevsun Resources (NSU CN)

Nevsun's Copper Solution for Zijin

Zijin Mining Group Co Ltd H (2899 HK)/Zijin Mining Group (601899 CH) announced a friendly, all-cash bid for Nevsun Resources (NSU CN) at...

David Blennerhassett

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