Thursday, 03 Nov 2011
Rio Tinto reiterated its friendly all cash offer of CAD 4.15 per common share for Hathor Exploration made on 19 October 2011.
Rio Tinto's offer represents a premium of more than 55% to Hathor's unaffected closing price on August 25th 2011. It is also a premium of approximately 11 per cent to Cameco's unsolicited offer of CAD 3.75 per common share, which was extended until 14 November 2011.
Mr Doug Ritchie CEO of Rio Tinto Energy said that "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.