Quadra Mining Ltd. Responds To Antofagasta

Quadra Mining Ltd. announced that it understands Antofagasta PLC has submitted an Offer of A$11.20 for all the issued shares of Equatorial Mining Limited & has entered into an option agreement with AMP Life, the majority owner of Equatorial, for 19.9 per cent of their shareholdings at A$8.00 per share.

Quadra President & Chief Executive Offer, Paul Blythe said, "we are evaluating Antofagasta's announcement & its intention to bid for Equatorial. We will weigh our options carefully & remain committed to a disciplined approach to any transaction."