DJ UPDATE: Herald Resources Briefs Interested Parties (Adds detail of Dairi project and declaration that Bumi's offer is unconditional) By Alex Wilson Of DOW JONES NEWSWIRES
MELBOURNE (Dow Jones)--Herald Resources Ltd. (HER.AU) said Thursday it has this week briefed interested parties, raising the prospect a rival bidder could emerge to challenge a A$445 million bid from PT Bumi Resources Tbk (BUMI.JK). In a statement to the Australian exchange, the base metals developer said it has conducted management briefings with the parties, some of which will visit its Dairi zinc and lead project in Northern Sumatra next week. A person familiar with the situation said the interested parties are from Indonesia, Australia and elsewhere and have signed confidentiality agreements. Herald has until Jan. 23 to issue its recommendation on the Bumi offer, which closes on Feb. 15 unless extended, and the takeover target has reiterated its advice to shareholders to take no action in the interim. The Perth-based company also Thursday released the results of a definitive feasibility study into the Dairi project, which it said would deliver post production cashflows of US$1.1 billion after tax and have an internal rate of return of 48%. Herald said the capital cost of the development was US$227 million, up from the previous estimate of US$221 million, and that US$50 million of that has already been spent. Chairman Terry Allen said the study is for a mine life of seven years but that Herald is very hopeful it can extend this substantially with resources from nearby deposits. Meanwhile, Bumi said that it has received approval from Australia's Foreign Investment Review Board for its bid and that its offer is now unconditional. Herald closed up 0.5% at A$2.21, below the Bumi offer of A$2.25 per share, in an Australian market down 0.2%. Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. DILARANG KERAS MEMOSTING OPINI PRIBADI TENTANG POLITIK DI MILIS INI. Silahkan lakukan itu di milis [EMAIL PROTECTED] [EMAIL PROTECTED] untuk berhenti dari milis saham [EMAIL PROTECTED] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
