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Vancouver copper miner to buy Greenland molybdenum property

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.

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.