another rumour - resources sector will look very different in 12...

another rumour - resources sector will look very different in 12 months time - another rumour doing the rounds is anglo american after xstrata

0147 GMT [Dow Jones] Xstrata (XTA.LN) poised to launch A$20/share cash bid for Zinifex
(ZFX.AU), says senior trader with good track record on M&A. Expects bid within 6
months, maybe within weeks. "I think their strategy is to get in here quickly and
blitz some of the major commodities they are interested in. They've picked up nickel
and coal and they want to pick up zinc and I think they want to do it before the Chinese
move on anything preemptively over here. Despite what you are hearing, zinc is up there
(in terms of priorities for Xstrata)." Says Xstrata wanted to wrap up A$3 billion
Jubilee Mines bid before moving on Zinifex, but that Jubilee is now a "done
deal." Xstrata today launched A$1 billion bid for Resource Pacific (RSP.AU). Xstrata
says it has no comment on Zinifex speculation. Zinifex also declines comment. Last month,
Zinifex hit A$16.48 high on talk of looming bid from Oxiana (OXR.AU) or Xstrata. ZFX last
up 2.7% at A$15.01, hits 2-week high of A$15.18 despite 3.0% fall in LME zinc. (DWR)