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Old 11-16-2011, 08:55 AM   #1
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Chinese Miners scoop up another one..

It's currently haulted but Jaguar Mining (Brazilian Miner) looks to be bought by Shandong Gold Mining(chinese miner). Jag is a $450 million market cap miner and the bid looks to be around $1 billion. JAG is a 2.6% component on the GDXJ (junior mining etf) so this is a pretty big deal. JAG is not a micro-explorer.


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JAG is +57% this morning after reports indicate that Shandong Gold Mining is offering $9.30/share in cash for JAG.
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Old 11-16-2011, 08:57 AM   #2
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The Chinese are definitely taking gold seriously.
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Old 11-16-2011, 09:15 AM   #3
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Originally Posted by PMBug View Post:
The Chinese are definitely taking gold seriously.
The deal apparently includes them buying up 100 million in debt for the company. Yeah, very seriously.
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