Nevsun Resources says Lundin's bid undervalues company, shares +13%

|About: Nevsun Resources Ltd. (NSU)|By:, SA News Editor

Nevsun Resources (NSU +13.4%) surges after saying Lundin Mining's latest offer to buy the company "continues to ignore the fundamental value" of NSU and its assets.

NSU says Lundin's offer represents only a 13% premium to yesterday's closing trading price of C$4.21/share on the Toronto Stock Exchange and only a 9.1% premium to the volume weighted average trading price over the past 30 days.

NSU says it had not yet received a formal offer from Lundin but a special committee of independent directors would consider any offer before making a recommendation to the board and shareholders.

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