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Rio Tinto
RIO today reiterated its
friendly all-cash offer of C$4.15 per common share for Hathor Exploration
made on 19 October 2011.
Rio Tinto's offer represents a premium of more than 55 per cent to Hathor's
unaffected closing price on 25 August 2011. It is also a premium of
approximately 11 per cent to Cameco's unsolicited offer of C$3.75 per common
share, which was extended until 14 November 2011.
Rio Tinto Energy chief executive Doug Ritchie said "Our expertise in
exploration, innovative mining techniques, technology and commitment to
sustainable development will complement and build on the strong technical
foundation established by Hathor at Roughrider."
Rio Tinto intends to accelerate the investigation and assessment of Hathor's
exploration properties to unlock their full potential, consistent with
global safety and community standards. Rio Tinto's investments in
Saskatchewan will support the diversification and development of the
regional economy, building on its significant presence in Canada.
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