First Quantum Minerals Announces Creation of a New Global Le

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Message Mar 2 Avr 2013 16:45

First Quantum Minerals Announces Creation of a New Global Le

First Quantum Minerals Announces Creation of a New Global Leader in Copper
03/22/2013

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) and its wholly-owned subsidiary FQM (Akubra) Inc. (together, the "Offeror") today announced that, as at 11:59 p.m. (Eastern Daylight Time) on March 21, 2013, a total of 60,120,405 common shares of Inmet Mining Corporation ("Inmet", TSX Symbol "IMN"), representing 85.5% of the outstanding Inmet shares (on a fully diluted basis), had been validly tendered to the Offeror's offer (the "Offer") to acquire all of the outstanding shares of Inmet. The Offeror has taken up and accepted for payment all such shares and will pay for such shares on or before March 27, 2013.

Inmet shareholders who elected: (a) the cash and share alternative will receive $36.00 in cash and 1.6484 common shares of First Quantum per Inmet share; (b) the share alternative will receive 3.2967 common shares of First Quantum per Inmet share; and (c) the cash alternative will receive $40.60 in cash and 1.4376 common shares of First Quantum, subject in each case to adjustment for fractional shares and to confirmation of the number of Inmet shares validly tendered pursuant to Notices of Guaranteed Delivery.

The Offer has also been extended and will now be open for acceptance until 5:00 p.m. (Eastern Daylight Time) on April 1, 2013 in order to allow Inmet shareholders an additional opportunity to tender to the Offer. If the Offeror is successful in acquiring 90% of the Inmet shares (on a fully diluted basis) under the Offer, the Offeror intends to acquire the balance of the Inmet shares by way of Compulsory Acquisition, as more fully described in the Offer circular. If the Offeror does not acquire 90% of the Inmet shares (on a fully diluted basis) under the Offer, the Offeror will be implementing a Subsequent Acquisition Transaction to acquire the balance of the Inmet shares, as more fully described in the Offer circular. Inmet shareholders are urged to tender their Inmet shares, to the extent they have not already done so, prior to the expiry of the Offer at 5:00 p.m. (Eastern Daylight Time) on April 1, 2013 in order to receive payment for their shares sooner rather than later.

The combination of the First Quantum and Inmet assets has created one of the world's leading copper producers with a geographically diversified portfolio of high-quality operations and development projects in eight countries across four continents.

With pro forma revenues in 2013 forecast to be in excess of US$3.5 billion and a strategic plan to produce more than 1.3 million tonnes per annum of copper by 2018, the Company is poised to become the largest, widely-held pure-play copper producer and one of the top five copper producers in the world.

The Company will be one of the fastest growing copper companies with a projected compound annual growth in copper production of more than 20% for at least the next decade. It is also positioned to benefit from a strengthened financing profile, greater liquidity, the ability to generate substantial free cash flow and the flexibility to use debt and equity capital markets at a lower long-term cost.

First Quantum's immediate focus now is to integrate the operations and people of the two companies in order to maximize the best elements of both to create an enlarged and unified Company with a much stronger corporate and financial profile.

First Quantum recognizes the success that Inmet has had in developing a social license to operate at Cobre Panama and in operating well-managed and efficient mines at Las Cruces in Spain, Çayeli in Turkey and Pyhäsalmi in Finland.

Las Cruces, Çayeli and Pyhäsalmi are valuable additions to First Quantum's operating asset base.

At Cobre Panama, the Company will build upon what has already been achieved by bringing First Quantum's technical expertise and proven ability to deliver projects efficiently. The combination of the two project development teams and the Company's enhanced financial capability will substantially de-risk Cobre Panama and drive further value creation.

In the short term, First Quantum will conduct a detailed review of Cobre Panama to determine the appropriate next steps in how the project can be completed as efficiently as possible. An update on the outcome of this review will be provided in due course.

Philip Pascall, First Quantum's Chairman and Chief Executive Officer, commented:

"We are delighted to have successfully completed the Offer and are grateful for the overwhelming support that Inmet shareholders have shown for our vision of a new global leader in copper. This transaction is a substantial advancement in our long-stated objective of geographical diversification.

We are now focused on turning the vision into reality by putting together the great strengths of both companies - their high-quality mining assets and their equally high-quality human resources - to create a new global leader in copper with a far broader and more geographically diversified and dynamic portfolio of operating and development assets than either company on a standalone basis.

The combined group now has the management team and financial capacity to ensure that our strategic target of 1.3 million tonnes of copper production per annum within the next five years is achieved. We look forward to working with all stakeholders in what is undoubtedly an exciting future."

Bankers, Advisors and Information Agent

First Quantum engaged Jefferies International, Goldman, Sachs & Co., and RBC Capital Markets to act as its financial advisors in connection with the Offer. Fasken Martineau DuMoulin LLP acted as legal counsel to First Quantum in connection with the Offer.

Financing for the Offer is being provided by Standard Chartered Bank.

Georgeson Shareholder Communications Canada, Inc. has been retained as information agent for the Offer. Shareholders may contact Georgeson at:
Toll Free (North America): 1-866-656-4120
Outside North America Call Collect: 1-781-575-2421
Email: askus@georgeson.com

Forward-Looking Information

Certain statements and information in this press release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the anticipated completion of the proposed Offer and the anticipated strategic and operational benefits of the Offer. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "projects", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

With respect to forward-looking statements and information contained in this press release, First Quantum has made numerous assumptions including, among other things, assumptions about the price of copper, gold, cobalt, nickel, PGE, and sulphuric acid, and other anticipated costs and expenditures. Although management of First Quantum believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that any forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These risks, uncertainties and other factors include, but are not limited to, uncertainties surrounding the ability to realize operational synergies following completion of the Offer, reliance on Inmet's publicly available information which may not fully identify all risks related to its performance, success in integrating the retail distribution systems, and the integration of supply chain management processes, future production volumes and costs, costs for inputs such as oil, power and sulphur, political stability in Zambia, Peru, Mauritania, Finland, Turkey, Spain, Panama and Australia, adverse weather conditions in any of the foregoing countries, labour disruptions, mechanical failures, water supply, procurement and delivery of parts and supplies to the operations, and the production of off-spec material.

See First Quantum's annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors, many of which are beyond the control of First Quantum, that might cause actual results, performances, achievements or events to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

While First Quantum may elect to update the forward-looking statements at any time, First Quantum does not undertake to update them at any particular time or in response to any particular event, other than as may be required by applicable securities laws. Investors and others should not assume that any forward-looking statement in this press release represent management's estimate as of any date other than the date of this press release.

Other

This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any of the securities of First Quantum or Inmet. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada.

First Quantum has also filed with the U.S. Securities and Exchange Commission ("SEC") a Registration Statement, which includes the offer and take-over bid circular relating to its offer to Inmet shareholders. FIRST QUANTUM URGES INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT, THE OFFER AND TAKE-OVER BID CIRCULAR AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors may obtain a free copy of the offer and take-over bid circular and other documents filed by First Quantum with the Canadian securities regulators at http://www.sedar.com and with the SEC at the SEC's website at http://www.sec.gov. The offer and take-over bid circular and other documents may also be obtained free of charge from First Quantum's website at http://www.first-quantum.com or upon request made to First Quantum at 8th Floor, 543 Granville Street, Vancouver, British Columbia V6C 1X8.

For further information visit our website at http://www.first-quantum.com.
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Message Mar 2 Avr 2013 20:00

Re: First Quantum Minerals Announces Creation of a New Globa

April 2, 2013
First Quantum Minerals Announces Successful Completion of Offer: 92.74% of Inmet Shares Tendered
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 2, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) and its wholly-owned subsidiary FQM (Akubra) Inc. (together, the "Offeror") today announced that, as at 5:00 p.m. (Eastern Daylight Time) on April 1, 2013, a total of 65,206,044 common shares of Inmet Mining Corporation ("Inmet", TSX Symbol "IMN"), representing 92.74% of the outstanding Inmet shares (on a fully diluted basis), had been validly tendered to the Offeror's offer (the "Offer") to acquire all of the outstanding shares of Inmet. The Offeror has taken up and accepted for payment all shares tendered between March 21 and April 1, 2013 and will pay for such shares on or before April 5, 2013. Shares tendered on or before March 21, 2013 were previously taken up and paid for by the Offeror.

Inmet shareholders who tendered their shares between March 21 and April 1 and who elected: (a) the cash and share alternative will receive $36.00 in cash and 1.6484 common shares of First Quantum per Inmet share; (b) the share alternative will receive 3.2967 common shares of First Quantum per Inmet share; and (c) the cash alternative will receive $36.62 in cash and 1.6199 common shares of First Quantum, subject in each case to adjustment for fractional shares and to confirmation of the number of Inmet shares validly tendered pursuant to Notices of Guaranteed Delivery.

As the Offer has now expired, the Offeror will proceed to acquire the balance of the Inmet shares not tendered to the Offer by way of Compulsory Acquisition, as more fully described in the Offer circular. A Notice of Compulsory Acquisition is expected to be mailed in the coming days to Inmet shareholders who did not tender their shares to the Offer. Shareholders are encouraged to carefully review, complete and return the Notice of Compulsory Acquisition, together with the certificates representing their Inmet shares, in accordance with the instructions included in the Notice of Compulsory Acquisition so as to receive payment for their shares as soon as possible.

Commenting upon the Offer's successful completion, Philip Pascall, First Quantum's Chairman and Chief Executive Officer, said:

"We are delighted that our Offer was met with such overwhelming acceptance by Inmet shareholders. We wish to once again thank them for their tremendous support throughout the course of our Offer and to welcome them as new shareholders of First Quantum. We look forward to a bright future in which, together, we turn our vision of a new global copper leader into a reality."

Bankers, Advisors and Information Agent

First Quantum engaged Jefferies International, Goldman, Sachs & Co., and RBC Capital Markets to act as its financial advisors in connection with the Offer. Fasken Martineau DuMoulin LLP acted as legal counsel to First Quantum in connection with the Offer.

Financing for the Offer is being provided by Standard Chartered Bank.

Georgeson Shareholder Communications Canada, Inc. has been retained as information agent for the Offer. Shareholders may contact Georgeson at:
« L'aventure n'existe pas. Elle est dans l'esprit de celui qui la poursuit, et dès qu'il peut la toucher du doigt, elle s'évanouit pour renaître bien plus loin, sous une autre forme, aux limites de l'imagination. »
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mbury

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Inscription: Sam 19 Sep 2009 09:49

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Message Mar 2 Avr 2013 22:09

Re: First Quantum Minerals Announces Creation of a New Globa

Bonsoir,
Avec quel argent FQM va-t-il payer les actionnaires d'INMET? Une partie -ou la totalité- du cash de Kansanshi?? Les Crozes ou Bingogo auraient-il un avis autorisé sur ce sujet? Merci à tous pour vos avis , voire éclaircissements.
Bonne soirée MB
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Inscription: Jeu 14 Mai 2009 16:23

Message Mer 3 Avr 2013 00:46

Re: First Quantum Minerals Announces Creation of a New Globa

First Quantum Financial a progressivement, au fil du temps, pompé 2.5 milliards de dollars dans Kansanshi Plc.
Il est probable que First Quantum Minerals employera tout ou partie de ces sommes.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU
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mbury

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Inscription: Sam 19 Sep 2009 09:49

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Message Mer 3 Avr 2013 09:54

Re: First Quantum Minerals Announces Creation of a New Globa

Bonjour Les Crozes,
FQM a fait remonter des grosses sommes: nous le savons car il suffit de comparer les coûts d'extraction aux prix de vente depuis qqs années pour avoir une idée des flux de bénéfices dégagés chaque année. Cela veut surtout dire que FQM a fait remonter -indûment- l'argent pour lui, et au détriment de l'autre actionnaire qu'est ZCCM IH. Il doit y avoir là un beau levier d'action pour ZCCM IH (via le GRZ) pour récupérer sa part des minority interests.
Bonne journée MB
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LesCrozes

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Message Mer 3 Avr 2013 12:09

Re: First Quantum Minerals Announces Creation of a New Globa

Effectivement il s'agit là d'un beau levier que le management est en train d'actionner pour essayer d'obtenir des choses de la part de First Quantum.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU
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mbury

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Inscription: Sam 19 Sep 2009 09:49

Localisation: Nord de l'Alsace, dans le Parc Régional des Vosges du nord

Message Mer 3 Avr 2013 14:08

Re: First Quantum Minerals Announces Creation of a New Globa

Merci les Crozes,
Si la démarche était successful, ouah!
Bonne journée MB

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