Xstrata Nickel Australia Pty Ltd has been forced to extend its $3.1 billion takeover offer deadline for Jubilee Mines NL for a second time, after a slow take-up by the target's shareholders.
Jubilee Mines NL has written to shareholders today urging them to accept a takeover offer from Xstrata Nickel Australia Pty Ltd, which currently holds 40.13 per cent of Jubilee shares.
Jubilee Mines NL has entered into an off-take agreement with Inco Ltd for the sale of nickel concentrate production from its Cosmos Nickel Operations in Western Australia for the period from 1 October 2006 to 30 September 2007.
Western Australian nickel explorer Jubilee Mines NL has announced a positive overall performance for the March quarter, highlighted by continued steady nickel production.
Jubilee Mines today announced interim financial results for the December 2005 half year, reporting a net profit of $23.3 million - significantly down on the $45.1 million profit for the same period the previous year.
JUBILEE Mines has announced its intention to proceed with the development of a new underground decline in order to extend the life of its Cosmos nickel operation, 50 kilometres north of Leinster.
HE has been a backpacker, a lawyer, a prospector, a fish salesman, a company director but most of all he is known for his sovereign-like reign at the helm of one of WA’s largest and most successful independent nickel companies – Jubilee Mines.
