We have advised readers of our Canada Report newsletter to sell Inmet Mining (TSX: IMN, OTC: IEMMF) after the price of the stock rose sharply following the Jan. 13 announcement of a merger with Lundin Mining (TSX: LUN).
The merged company will be involved in the development of two world class copper projects: Tenke Fungurume in Congo in which Lundin holds a 24% stake (Freeport McMoRan is the majority partner) and Cobre Panama which is 74% controlled by Inmet.