BRIEF-Discovery Metals gives update on CFC and CAD Fund proposal


Oct 11 (Reuters) - Discovery Metals Ltd :

* Update on indicative, non-binding proposal

* Directors have advised representatives of CFC and CAD Fund that proposed

price is inadequate

* Says met with representatives from Cathay Fortune Corp and China-Africa

Development fund to discuss the unsolicited proposal to buy all shares in co

for A$1.70 per share

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