03:29 PM EST - Quadra Mining Ltd. : Quadra Mining Ltd.'s (QUA.TO: Quote) stock jumped more than 12 percent on Friday after the base metals company launched a takeover bid for International Molybdenum (IMY.L: Quote), trying for a foothold in one of the hottest commodities on the market. Quadra said it planned to offer C$34.4 million ($30 million) for the molybdenum producer and that InterMoly's directors have already termed the offer to be "fair and reasonable." Molybdenum has various uses such as in high-strength alloys and as a catalyst and lubricant. InterMoly shareholders would receive one Quadra share for every 36.22 InterMoly shares and InterMoly warrant holders would get one Quadra share for every 99.23 InterMoly warrants. Quadra Mining Ltd.
shares T.QUA are trading up one dollar eighteen cents at $10.28.
