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Market: ASX
Sector: General Mining - Zinc, Lead and Tin
EPIC: CBH
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CBH Resources
www.cbhresources.com.au

CBH Resources has an operating base metal mine, the Endeavor Mine, in western New South Wales (NSW), Australia, and a further two base metal projects planned: The Rasp Mine at Broken Hill, NSW and the Panorama Project in the Pilbara region of Western Australia.

Full CBH Resources profile here
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CBH Resources shares surge on Revised Acquisition Proposal from Nyrstar

12th Mar 2010, 9:21 am

CBH Resources (ASX: CBH) has reported today that it has received a proposal from Nyrstar NV which could lead to a change of control transaction.

This follows an earlier proposal from Nyrstar in December 2009 which proposed to acquire all of the ordinary shares in CBH Resources at A$0.135 per share.

After consideration by the Board, it was not considered to be a superior proposal to certain transactions involving the Company's major shareholder, Toho Zinc Co. Ltd, as announced on 21 January 2010.

Nyrstar's Revised Proposal would include an improved cash payment of A$0.195 per CBH share or, at CBH’s shareholders’ election, scrip consideration comprising Nyrstar shares at an exchange ratio which would be set prior to announcement of the transaction at a level that would deliver value equivalent to A$0.195 per CBH share.

The CBH Board intends to provide a preliminary response to Nyrstar in respect of the Revised Proposal early next week, and has appointed a committee of the Directors independent of Toho to consider the terms of this response.

CBH Resources shares rose 28% to 18 cents in trading today.

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