🕐29.10.10 - 07:27 Uhr

Kagara Takeover Bid Opportunistic!



Ladies and Gentlemen
Kagara Limited advised the Directors of Copper Strike on 12 October that it intends to make a conditional takeover bid for all the shares in Copper Strike at a price of 11c.

The formal offer is due next week after which time, Copper Strike will have two weeks to respond.
The Directors believe that this is a highly opportunistic bid and recommend that Shareholders take NO ACTION at this time.
We have formed a strong team to assist the Directors with their response including professionals from SLM Corporate as our main advisors, Baker & McKenzie as legal advisers, RSM Bird Cameron as independent accountants and Mining One Consultants for independent technical advice.

The Directors will provide formal advice to Shareholders in approximately two to three weeks.
I have attached a copy of our initial response to the ASX and also a copy of the Quarterly Activities and Cashflow report which was released today.
As of Monday morning my views can be heard on boardroom radio by going to www.brr.com.au and following the CSE link.
Regards
Tom Eadie Managing Director Copper Strike Limited Level 9 - 356 Collins Street Melbourne VIC 3000 Ph 0419 880333 or (03) 96400955 Facsimile (03) 96420698
ABN 16 108 398 983
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