Afferro Mining (AFF) has rebuffed a low-ball bid from India-based Jindal Steel and Power and says it has ended negotiations because Jindal’s offer "fundamentally undervalued" the company’s iron ore assets in Cameroon and its $90m (£57m) cash pile.
IC TIP:
Buy
at
77p
Talks with International Mining and Infrastructure (IMIC) continue, as well as discussions with other "potential strategic partners".
