insult, page-6

BC Iron nod for Regent's $345m bid
January 21, 2011 - 9:39AM

Australia's BC Iron has recommended a cash takeover offer from major shareholder Hong Kong's Regent Pacific Group in a deal valuing the company at $345 million.

Regent, which owns a 19.87 per cent stake, is offering $3.30 cash per share for BC Iron.

BC Iron's biggest shareholder is Consolidated Minerals, owned by Ukrainian billionaire Gennadiy Bogolyubov's Palmary Enterprises.

BC Iron and Regent's shares were placed in a trading halt on Wednesday pending the transaction. BC Iron's core asset is its Nullagine coal project, a 50-50 joint venture with Fortescue Metals.

http://www.smh.com.au/business/bc-iron-nod-for-regents-345m-bid-20110121-19ygq.html




If you look at the last paragraph you will now know that Nullagine is actually a Coal Project :)