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The estimated life expectancy of Inmet’s Cobre Panama copper mining project was recently extended to 40 years.
The estimated life expectancy of Inmet’s Cobre Panama copper mining project was recently extended to 40 years.
(Inmet)

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With Inmet belle of the ball, other suitors certain to appear

Philip Pascall, CEO of First Quantum Minerals Ltd., is hoping the third time is the charm in his attempt to buy Inmet Mining Corp. That’s not likely. Despite the global economic uncertainty there is still a lot to like about copper and in particular Inmet’s jewel asset, its Cobre Panama development. Investors have already pushed Inmet stock above First Quantum’s latest offer, a half-cash, half-stock – and arguably half-hearted – $72 per share bid announced Sunday, just 2.9 per cent higher than its last bid three weeks earlier. Their bet that a better price awaits is a sensible one.