July 17, 2018 / 1:49 PM / a month ago

BUZZ-Nevsun Resources: Surges as Lundin Mining makes fresh bid

(Updates)

** Shares of the base metals miner rise as much as 15 pct to $3.69 in early trading after Lundin Mining Corp makes second bid to buy the company

** NSU’s Toronto-listed stock up ~15 pct at C$4.84; Lundin’s shares down 0.7 pct at C$7.43

** Lundin on Monday offered to buy NSU for C$1.4 bln ($1.06 billion), lower than an earlier C$1.5 bln offer

** Offer ignores “fundamental value” of company and its assets - NSU

** Lundin’s notional takeover offer represents only a 13 pct premium to Nevsun’s Toronto closing of C$4.21 on Monday - CEO Peter Kukielski

** NSU’s Toronto shares have gained ~9 pct since Lundin’s first offer in May ($1 = 1.3170 Canadian dollars) (Reporting by John Benny in Bengaluru)

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