First Quantum Minerals Share Discussion Threads

[tonysss13] 15/12/2014 12:03

FIRST QUANTUM MINERALS REPORTS A FAILURE IN THE ATMOSPHERIC LEACH TANK
AT ITS RAVENSTHORPE NICKEL OPERATION



First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM", LSE Symbol "FQM") today reported that a structural failure has occurred to the atmospheric leach tank at its Ravensthorpe nickel operation in Western Australia.



The tank, situated after the autoclaves in the circuit, contained acid-leaching nickel in slurry. The spill, resulting from the failure, has been contained within the plant's protective bunded area. All personnel have been accounted for and no injuries have been reported. The plant is currently shut down and, on the basis of information received to date, no adverse environmental effects are anticipated. Investigations to determine the cause are being undertaken.



At this point, the Company is unable to provide estimates on the length of the shutdown or the impact on the operation's production.



Further updates will be provided as information becomes available.



On Behalf of the Board of Directors 12g3-2b-82-4461

of First Quantum Minerals Ltd. Listed in Standard and Poor's

G. Clive Newall

[dharmesh2979] 15/12/2013 11:32

Frx due next news before end of December share price is low and steal to buy in, news of their funding from major industry players can result in a significant uplift to the share price in short term! Dyor but excellent buy

[wayney] 19/6/2012 15:21

Knocknock some death dive since your post, on the up! Idiot!

[knocknock] 15/5/2012 00:17

get ready for the death dive!

[knocknock] 08/5/2012 20:12

One should expect October lows to be exceeded this time around. All to play for bears, and the bulls as always have all to pay for.

[l2user] 06/1/2012 10:13

First Quantum
Oriel Securities
06/01/12 09:27
Upgrades
Reduce Add
2
1,200.00 1,515.00
315
1

[l2user] 04/1/2012 22:30

Broker Roundup African Eagle Resources, First Quantum Minerals, Synchronica and Domino's Pizza
2:47 pm

[l2user] 04/1/2012 11:54

First Quantum Minerals (LON:FQM)
11:23 am
Oriel Securities issued a note

[l2user] 04/1/2012 11:54

First Quantum Minerals (LON:FQM)
11:23 am
Oriel Securities issued a note

[wayney] 02/8/2011 15:11

Good news re 5 times split should be alot more accessable to other investors

[jakes114] 02/7/2011 14:07

5 times split will be good for increasing volume, price rise is because of hints in canada of take over i will believe when I see it
Jakes

[jakes114] 15/5/2011 13:29

Ravensthorpe should be well on track to start production soon, plus what is Glencore going to do with all those $ raised next week, will they go on a buying spree????????/

[wayney] 01/3/2011 17:59

Results due evening of the 15th March should be good.

[thorpematt] 25/2/2011 00:46

Looks like there are a number of possible developments upcoming...but all is quite on the threads.

Anyone out there?

[mail2] 05/9/2010 01:44

First Quantum pulls out of Congo

[baz147] 12/8/2010 20:52

Any news of the huge drop today?

[leedskier] 05/3/2010 18:49

It is probably the most loved (copper) mining share in Canada. The ticker there is TSE:FM.



I own it along with ELR. In London irrespective of how many are traded, it tracks the Canadian share price, adjusted at the open of the TSE daily. The advantage of this share is that the CAD has travelled vertically against the GBP and it adds to the value.

[aburles] 03/3/2010 18:56

I'm trying to understand what (or who) is supporting this share and the heights it reaches. I am not saying it is overvalued, just that there is never any news, nothing in the papers, no funds seem to own up to buying in, it just mysteriously rises and rises.

I'm off to iii to post the same question...

Regards all FQM fans,

AB

[gardenboy] 09/12/2009 08:06

Now diversifying big time with the acquisition of Ravensthorpe nickel from BHP

[dodgydd] 23/11/2009 07:28

RNS Number : 8893C
Kiwara PLC
23 November 2009












www.first-quantum.com

www.kiwara.co.uk




JSE - KWR

AIM - KIW

ISIN - GB0007702953

23 November 2009




Kiwara plc

("Kiwara" or the "Company")




First Quantum MINERALS TO ACQUIRE KIWARA PLC




cash AND EQUITY transaction valued at APPROXIMATELY us$260.2 MILLION


(All dollar amounts are expressed in United States dollars, except as otherwise indicated where GBP = British pounds; Cdn.$ = Canadian dollars)




First Quantum Minerals Ltd. ("First Quantum", TSX Symbol "FM", LSE Symbol "FQM") and Kiwara PLC ("Kiwara", LSE AIM Symbol - "KIW", JSE Symbol "KWR") are pleased to announce that they have entered into an implementation agreement pursuant to which First Quantum will acquire the entire issued share capital of Kiwara (the "Offer") by way of a scheme of arrangement (the "Scheme").




Pursuant to the Scheme, Kiwara shareholders will receive 0.0085 First Quantum shares and GBP0.375 for every Kiwara share held. The implied value of the purchase price is GBP0.75 per Kiwara share based on an agreed market price of £43.68 for one First Quantum share on the LSE. This represents a 41.5% premium to the closing price of Kiwara's shares on AIM on November 20, 2009, and a 35.5% premium to the volume-weighted average trading price of Kiwara shares on AIM for the 20 trading days ended November 20, 2009. In total, the cash and equity transaction is valued at approximately US$260.2 million (GBP157.6 million) and is expected to result in the issuance of approximately 1,884,448 million new First Quantum shares.




First Quantum has approached each director of Kiwara and Cardiff Property plc, City National Resources High Yield Trust, Derek Joseph, New African Mining Fund, Geiger Counter and Ian Reynolds holding approximately 76.05% of the issued share capital of Kiwara who have irrevocably undertaken to vote in favour of the Scheme subject to certain exceptions.




The board of directors of Kiwara considers that the Offer is fair and reasonable and unanimously recommends that Kiwara shareholders vote in favour of the Offer. The board of directors of Kiwara has retained Moore Stephens Corporate Finance (Moore Stephens (Johannesburg) Corporate Finance (Pty) Limited) as an independent expert to advise it on the fairness of the Offer as it relates to Kiwara shareholders. The opinion of the independent expert will be disclosed to Kiwara shareholders in due course.




Commenting on the transaction, Mr. Colin Bird, Chairman of Kiwara said, "In the evolution of a major mining project, management is constantly faced with matching progress with overall resource capacity. Kiwara has recognized that the Kalumbila project and indeed the licence area in general, has potential well in excess of our current resource capability.




This transaction with First Quantum puts the project into a management team with a proven track record to implement major projects on time and to specification. The Board therefore has no hesitation in recommending this transaction consisting of cash and shares with the knowledge that best industry practice will be applied throughout.




The directors and management of Kiwara wish First Quantum all the success in their ongoing development of what has the potential to become a very significant mine."




Mr. Philip Pascall, Chairman and Chief Executive Officer of First Quantum noted, "This transaction is consistent with First Quantum's strategy of acquiring projects to which we can add value by applying our considerable technical expertise. In addition, we believe our many years of successful operations in the Copperbelt and Zambia in particular will be beneficial in the development and eventual operation of the new assets."




About the Transaction



The Offer will be implemented by way of a scheme of arrangement (the "Scheme") in accordance with Part 26 of the UK Companies Act of 2006, as amended, to be proposed by Kiwara between Kiwara and its shareholders ("Scheme Members").




A circular containing the terms of the Offer is expected to be posted to the Kiwara shareholders by December 18 2009. The meeting of Scheme Members to approve the Scheme is expected to be held on January 11, 2010 and the general meeting of Kiwara shareholders to approve and implement the Scheme and approve such other matters necessary or desirable for the purposes of implementing the Scheme is expected to be held on January 11, 2010. The High Court of England and Wales hearing to sanction the Scheme is expected be held on January 28, 2010 and subject to the satisfaction or waiver of the conditions to the Scheme becoming effective, the Scheme is expected to become effective by January 29, 2010.




The Scheme contains customary non-solicitation provisions and the agreement that a compensation fee of GBP1.7 million will be payable by Kiwara to First Quantum if the Offer does not proceed for reasons relating to Kiwara and a compensation fee of GBP2.0 million will be payable by First Quantum to Kiwara if the Offer does not proceed for reasons relating to First Quantum.




Details regarding these and other terms of the transaction are set out in the circular, which once posted to shareholders, will also be available on Kiwara's website at www.kiwara.co.uk. All shareholders are urged to read the circular once it becomes available as it will contain additional important information concerning the transaction.




Kiwara's advisors in connection with the transaction are:

Financial adviser: FinnCap

Nominated adviser: FinnCap

Legal adviser in the UK: Fasken Martineau LLP

Legal adviser in South Africa: Eversheds

JSE Sponsor: Sasfin Capital

Independent expert Moore Stephens




First Quantum's advisors in connection with the transaction are:

Legal adviser in the UK: McCarthy Tetrault

Legal adviser in Canada: McCarthy Tetrault




About Kiwara

Kiwara is a mineral exploration and development company, focusing on base metals in Zambia. The company's asset is a controlling interest in mineral prospecting licences (the "Licence Area") on the periphery of the Kabombo Dome in North Western Province, Zambia. Kiwara has a market capitalization of approximately GBP105.4 million based on the closing price of GBP0.53 per Kiwara share on AIM on November 20, 2009.




The Licence Area includes the Kalumbila Copper deposit. On October 21, 2009, Kiwara announced the first results of its in-fill drill program at Kalumbila. The program is part of a study by Snowden Mining Consultancy to advise on a pre-feasibility study at Kalumbila. The initial focus of the study is to establish an indicated resource on the open-pittable mineralization identified by drill results to date.




Also contained in the Licence Area are the Kawako Nickel prospect and the Kawanga Uranium prospect. Preliminary drilling carried out to date suggests that both prospects have significant upside potential.




For further information, please visit www.kiwara.co.uk or contact:

Colin Bird, Chairman at [phone]

Peter Vivian-Neal at [phone]




About First Quantum

First Quantum is a growing mining and metals company engaged in mineral exploration, development and mining. The company produces LME grade "A" copper cathode, copper in concentrate, gold and sulphuric acid. First Quantum's shares are listed for trading on the TSX (symbol: FM) and the LSE (symbol: FQM). The company has a market capitalization of approximately GBP3.4 billion based on the closing price on the LSE on November 20, 2009.




First Quantum's assets in Zambia include the 80% owned Kansanshi open pit copper-gold mine, the 100% owned Fishtie copper project and the 100% owned Bwana Mkubwa SX/EW facility and sulphuric acid plants. First Quantum also holds strategic investments in Mopani Copper Mines (16.9%), operator of the Nkana underground copper mine and cobalt refinery and the Mufulira underground copper mine, smelter and copper refinery, as well as Equinox Minerals Ltd. (16.32%), a publicly-traded company that operates the Lumwana copper mine. In the Democratic Republic of Congo, First Quantum operates the 95% owned open pit Frontier copper mine and holds a 65% ownership in the Kolwezi copper-cobalt tailings project. In Mauritania, First Quantum operates the 80% owned Guelb Moghrein copper-gold mine. In Finland, the Company owns the 100% Kevitsa nickel-copper-PGE project.






On Behalf of the Board of Directors



First Quantum Minerals Ltd. Kiwara Plc

G. Clive Newall Colin Bird

President Executive Chairman




12g3-2b-82-4461

Listed in Standard and Poor's







Enquiries:




Colin Bird

Kiwara plc

Tel: [phone]
Clive Newall

First Quantum Minerals Ltd

Tel: [phone]



Peter Vivian-Neal

Kiwara plc

Tel: [phone]
Sharon Loung

First Quantum Minerals Ltd

Tel: [phone] or

[phone]



Matthew Robinson / Clive Carver / Ed Frisby

FinnCap

Tel: [phone]
Simon Hockridge
Hogarth Partnership Ltd.

Tel: [phone]




Brian Chistie

Sasfin Capital

Tel: [phone]






Suzanne Johnson-Walsh

Bishopsgate Communications

Tel: [phone]

[jakes114] 20/9/2009 20:10

Its all traded in Canada look at FM on the Toronto ex

[maverick247] 15/9/2009 12:16

why are there no trades on this security considering the market cap?

[jakes114] 30/7/2009 18:02

Yes, but what has put a rocket under them today?

Great Company, wish I had kept my 6,000 that I had years back when they first came to AIM
Ah nostalga