09:45 AM EST - New Island Resources Inc. : announced that Anaconda Mining Inc. has formally begun a share exchange takeover offer for New Island, to acquire all of the latter’s issued and outstanding common shares. The consideration, in the form of Anaconda common shares, values New Island at $0.1083 per New Island share, representing a substantial premium of about 54.8% based on the June 10, 2010 closing trading prices for each company. New Island Resources Inc.
shares V.NIS are trading up $0.03 at $0.10.
