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MOD rejects Sandfire takeover bid

New London arrival MOD Resources (LSE:MOD) has rejected a 72.7%-premium takeover offer by Sandfire Resources (ASX:SFR), made after joint-venture negotiations.

MOD rejects Sandfire takeover bid MOD rejects Sandfire takeover bid MOD rejects Sandfire takeover bid MOD rejects Sandfire takeover bid MOD rejects Sandfire takeover bid

MOD has found a serious amount of copper in Botswana already, and will release a feasibility study by March

MOD, which is developing the T3 copper project in Botswana, saw its share price jump 42% on the news to 20p (US25.7c) in London.