Friday, March 28, 2014

Crowd of potential buyers examining Augusta Resources (Rosemont Copper)

Augusta Resources, parent of the Rosemont Copper project, revealed today that "Nine interested parties, including a number of significant industry players, have signed confidentiality agreements and have been conducting an extensive review of the materials in Augusta's electronic data room.  The Company will commence the process of site visits to its Rosemont Copper Project next week and expects that the site visits will take place largely over the next three to four week period."  [Right, artists concept of the proposed Rosemont copper mine. Credit, Rosemont Copper]

The Augusta Board of Directors has recommended that shareholders reject Canadian mining company HudBay's unsolicited buy-out of the company, arguing it is undervalued and predatory, given expectations that permits to begin mining at the Rosemont property will be issued soon.


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