UPDATE 1-Herald Resources says backs Antam, Zhongjin bid

(Adds company comment, shares)

SYDNEY, March 10 (Reuters) - Australian miner Herald Resources Ltd (HER.AX: Quote, Profile, Research) has backed a bid by Indonesia's PT Antam (ANTM.JK: Quote, Profile, Research) and China's Shenzhen Zhongjin Lignan Nonfemet Co Ltd 000060.SZ, trumping rival Indonesian bidder PT Bumi (BUMI.JK: Quote, Profile, Research).

Herald, which owns a zinc and lead project in Indonesia, on Monday recommended shareholders accept an offer of around A$500 million ($463 million) by the Indonesian and Chinese consortium, made through their vehicle Tango Mining.

Still, Herald said shareholders should wait until near the end of the offer period before accepting the A$2.50 a share deal in a case a superior offer emerged. PT Bumi had offered A$2.25 a share, a price previously recommended by Herald directors.

Herald's shares closed Friday at A$2.64.

"Each of the Herald directors intends to accept the Tango offer, in the absence of a superior proposal, but intends to wait until near the end of the Tango offer period to do so," Herald said in a statement.

The Antam-Zhongjin offer is subject to a number of conditions including a minimum 50.1 percent minimum acceptance and approval from the Foreign Investment Review Board of Australia.

Antam has acquired a 10.7 percent stake in Herald Resources and also holds a 20 percent interest Herald's 80 percent-owned Dairi zinc/lead project in Northern Sumatra.

Herald has not yet got an Indonesian government forestry permit it needs to allow work on the site to start.