12:53 PM EST - Continental Minerals Corp. : Jinchuan Group Ltd. agreed to acquire Continental Minerals Corp. for $432 million to gain a gold and copper project in Tibet. Jinchuan, which controls 12 percent of Vancouver-based Continental, will pay $2.60 for each of the 166 million shares it doesn’t already own, Continental said today in a statement. The proposed deal values Continental 13 percent more than its last closing price in Toronto. Continental also said it plans to pay investors as much as 10 cents a share in cash before the takeover is completed. Continental Minerals Corp.
shares V.KMK are trading up 28 cents at $2.58.
