West Perth-based nickel miner Mincor Resources NL has completed the sale of its residual interest in Tethyan Copper Company Ltd to Antofagasta plc, receiving a cash payment of $15.7 million in return for the transfer to Antofagasta of almost 12.6 million options in Tethyan. The sale value reflects the strike price of the options (15 cents) subtracted from the Antofagasta Bid price ($1.40). Settlement of the transaction follows the successful completion of Antofagasta's recommended $1.40 cash takeover bid for Tethyan, which closed on Friday 28 April with Antofagasta announcing a relevant interest of 96 per cent in Tethyan's shares.
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