Quadra Mining Ltd. (TSX: QUA) is making a pitch to acquire International Molybdenum Plc, which owns the Malmjberg molybdenum project in Greenland.
InterMoly shareholders would receive one Quadra share for 36.22 InterMoly shares in a deal totalling about $35 million.
Quadra, a Vancouver-based copper producer, has mining assets in Nevada and Arizona.
InterMoly directors have agreed to recommend that shareholders complete the offer.
Quadra share price range during the past week: between $8.79 and $9.18; 52-week high: $13.35; 52-week low: $6.93.