Anvil Mining Ltd said that it was not in talks with any other company, Chinese or otherwise, for an exclusive takeover. The company issued the formal statement to dispel the various rumours doing the rounds to this effect after the Australian Financial Review published a story stating this.
The statement said that Anvil Mining was unaware of any undisclosed material developments in respect of its business and affairs. It also mentioned that the company was in the middle of a strategic review to consider the value maximizing alternatives available to the corporation. There were currently no developments as a result of this process to be disclosed as per the statement.
The review has the support of their major shareholder Trafigura Beheer B.V. and its board. BMO Nesbitt Burns is leading this review, which is often considered code for being put on the market for sale. Many people did not expect this as the company has recently appointed a new Chief Executive Officer and is heading well along in its Kinsevere project.
The company which is dually listed in both the Toronto Stock Exchange and the Australian Stock Exchange has copper mining interests in the Democratic Republic of Congo. Commercial production of copper is about to begin at the Kinsevere project with an estimated tripling of its current copper production.