cnw
TORONTO, April 4 /CNW/ - Equinox Minerals Limited (TSX: EQN) (ASX: EQN) ("Equinox" or the "Company") announced today that
it has postponed its special meeting of shareholders called to consider
the acquisition of Lundin Mining Corporation ("Lundin"). The meeting,
originally scheduled to be held on Monday, April 11, 2011, has been
rescheduled for Tuesday, April 26, 2011.
The Board of Directors considers this postponement to be the preferred
course of action given the announcement by Minmetals Resources Limited
(''Minmetals'') of its intention to make an unsolicited take-over bid
for the Company. The postponement will not impair the path forward on
the Company's proposal to acquire Lundin. This should, however, allow
time for shareholders to receive and consider the comments of the Board
of Directors as well as any other advice that the Board may offer in
the meantime. The timing of a formal recommendation by the Board of
Directors will be dependent upon the making by Minmetals of a formal
offer in relation to its announced take-over bid.
Although the actions of Minmetals have thus far been limited to the
announcement of an intention to make a take-over bid, the Company's
Board of Directors will be meeting shortly to give consideration to
this and expects to be in a position to provide a further update in the
coming days.
Equinox also announced that it plans to extend the date that its offer
to acquire all of the issued and outstanding Lundin common shares will
remain open for acceptance from 6:00 p.m. (Toronto time) on April 14,
2011 to 6:00 p.m. (Toronto time) on April 29, 2011. Equinox intends to
mail a formal notice of change in information and extension to Lundin
shareholders prior to April 14, 2011.
About Equinox
Equinox Minerals Limited is an international mining company dual-listed
on the Canadian (Toronto) and Australian stock exchanges.
The Company is currently focused on operating its 100% owned large scale
Lumwana Copper Mine in Zambia and construction of the JabalSayid
Copper-Gold project in the Kingdom of Saudi Arabia.
Equinox acquired the Lumwana project in 1999 and following nearly 10
years of feasibility, financing and construction, commissioned the
mine, plant and infrastructure in December 2008. Situated 220
kilometres northwest of the Zambian Copperbelt, Lumwana is now a major
copper mine which has established Equinox as one of the world's top 20
copper producing companies.
Equinox recently acquired the JabalSayid project as the project entered
the construction phase with first production scheduled for 2012.
JabalSayid is located within the Arabian Shield minerals province, 350
kilometres north-east of the Red Sea port city of Jeddah, the
commercial capital of Saudi Arabia, and 120 kilometres south-east of
Medina.
For information on Equinox and technical details on the Lumwana and
JabalSayid projects please refer to the company website at http://www.equinoxminerals.com/">www.equinoxminerals.com
