09:44 AM EST - Anaconda Mining Inc. : announced that it has formally begun a share exchange takeover offer for New Island Resources Inc. to acquire all of the issued and outstanding common shares of New Island. 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 closing trading prices for each company. Anaconda Mining Inc.
shares T.ANX are trading even at $0.33.
