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Shares in Rocklands Richfield PCI Limited (ASX:RCI) jumped more than 20 per cent on Friday after announcing China’s Shandong Energy Linyi Mining Group has approached the company with a takeover offer.



Shandong has has offered to pay between $0.52 and $0.562 per share, valuing the coal explorer at up to $202 million. 



Rocklands Richfield says it is considering the indicative, non-binding and conditional proposal which may or may not lead to a formal offer.



Shares in Rocklands Richfield jumped 20.69 per cent on Friday, closing at $0.35.



In the first half of its 2012 financial year Rocklands Richfield reported a net loss of $2.3 million.