up 12.2% in 10 days - where to from here?, page-4

dontgetcaught, for a start IXR does not hold OZL but rather OZL hold IXR. Secondly no one is getting out of anything. What has happened is that IXR has taken over CNI and paid that CNI shareholders in IXR shares. OZL still hold the same number of IXR shares but the percentage of shares held has been diluted because of the T/O.

from a recent IXR ann : "Under the terms of the Plan of Arrangement each CNI shareholder receives 3.7 IMX ordinary shares plus 0.5 of an ordinary share purchase warrant for each CNI common share held"

IXR have a number of prospects but probably of most interest to OZL is the Mt Wood copper exploration leases not too far from Prominent Hill. This project is a JV with OZL where OZL earn 51% of the non iron metals (ie copper) by spending 20 mill dollars. IXR retains the other 49%.....but as OZL own around 9.3% of IXR, their stake in Mt Wood is closer to 55% in reality. Have a read of the recent IXR ann. titled Presentation Canada. This JV is also mentioned in the recent OZL US roadshow preso.

IMO if OZL get even a sniff of anything at Mt Wood they may build their position in IXR to just under 20% just as they have with SFR. After that a total TO of IXR could be on the cards. This is only speculation on my part but obviously OZL have great interest in the district with the Prominent Hill mine and the Carrapateena copper project. A T/O of IXR seems like the next natural progression should Mt Wood look the goods. For now IXR and Mt Wood get barely a mention in the OZL preso so still early days....nonetheless OZL investing 20 mill in exploration plus a 9.3% stake in IXR must say something.

I don't hold IXR but have it on my watch list and I am trading in and out of OZL at the moment.