another takeover for a copper project

Miner Inmet to make all-cash offer for Petaquilla.

Petaquilla Copper Ltd., through its wholly-owned subsidiary Georecursos Internacional, S.A., owns 52% of Minera Petaquilla. Minnova (Panama) Inc. ("Minnova"), a wholly-owned subsidiary of Inmet Mining Corporation ("Inmet"), owns the remaining 48% of Minera Petaquilla, a company formed during 1997 to own the Ley Petaquilla mineral concession in Panama.

Petaquilla has fully diluted 176m shares. The offer price is cash $2. The last traded price is $0.96.

The project area covers 795 km2 and contains a massive porphyry deposit, which hosts 1.461 billion tonnes of mineralization grading 0.493% copper, 0.015% molybdenite, and 0.11 g/t gold.

Petaquilla's net is about 760mt of that which is about the similar size of the deposit what PMH has got although its grade is a bit more attractive.

Folks, The takeover value is C$350m. About 8 times the market capital of PMH.

If PMH can be valued at the 50% of value of the takeover, PMH should be worth $1+.

Things are happening...