Sphere Minerals has reiterated its support for Xstrata's $3.00 per share takeover offer, after disclosing that Chinese group Sin-Tang Development is believed to be pursuing an alternative $130 million capital raising pitched at $3.25 per share.

Sphere Minerals has reiterated its support for Xstrata's $3.00 per share takeover offer, after disclosing that Chinese group Sin-Tang Development is believed to be pursuing an alternative $130 million capital raising pitched at $3.25 per share.