We can always dream that something like this would happen to this stock!

19th April 2010

Everything indicates that Lubin-based KGHM Polska Miedż will soon announced the purchase of an overseas deposit of copper ore.

The company has been negotiating for months with the owner of a copper mining company listed on the Toronto stock exchange.

"We are in the final phase of negotiations," said KGHM president Herbert Wirth.

"In principle we are settling the cosmetic aspects of the co-operation. We have reached an agreement on the most important matter: the price."

Mr Wirth declined to elaborate other than to say the price was "respectable."

KGHM is understood to be preparing to purchase shares in the deposit as well as a minority in the Canadian company, with the option of taking a controlling stake in future.