Copper Strike says hostile takeover not bad if the price is...

Copper Strike says hostile takeover not bad if the price is right

It's been a week since Kagara Limited launched its hostile takeover bid on Copper Strike on the Australian Securities Exchange with an offer of 11 cents a share.

Copper Strike managing director Tom Eadie says Kagara's not the only resource company interested in accessing rich copper concentrate deposits at Einsleigh.

"Just about any smelter in the world, particularly copper smelters, are very short of copper concentrate," Mr Eadie said.

"They don't see it as risky to put, say, $100 million into getting production going if they're going to be guaranteed 50,000 tonnes a year of copper concentrate. Other mining companies might be running out of ore and looking for a new front to develop on.

"Certainly there's lots of other companies that are interested. Nobody's made an offer yet that we find acceptable but certainly there's lots of interest and of course, we're trying to accelerate that interest at the current time for obvious reasons," he said.