looks like its atakeover, page-3

The complete article from business spectator breakfast deals. Tends to be discounting the takeover idea.

CBH Resources, Perilya, Nyrstar

All eyes will be on zinc and lead producer CBH Resources this morning, which is expected to release details of a takeover proposal it has received. While it was thought a deal with rival Perilya would be on the cards, other talk suggests one of the worlds largest zinc metal producers, Nyrstar, could be behind an full takeover plan. Nyrstar, formed in 2007 from a merger between Umicore and Zinifex, and has wholly-owned operations in Hobart and Port Pirie as well as some joint ventures. After its share price surged 26 per cent yesterday against a drop of 0.4 on the benchmark index, CBH responded to a speeding ticket saying it was in incomplete discussions in respect of transactions. Patersons resources analyst Alex Passmore told AAP a likely announcement would be a plan with Perilya to jointly process ore from deposits in Broken Hill which has been discussed in the past. The AFR reports that Japans Toho Zinc, which owns 23 per cent of CBH and has offtake agreements, would have to approve any takeover. Perilya added to its coffers in December raising more than $55 million in a discounted share offer, with its largest shareholder Shenzhen Zhongjin Lingnam Nonfemet taking up nearly 10 per cent of the placement. It now has a market capitalisation of around $365 million, with CBH sitting on about $158 million.