Here is the link to the article
http://www.miningweekly.com/article/ivanhoe-australia-says-up-to-8-bidders-eying-mine-stakes-2012-05-15
To find out more about IVA, there is a presentation published by IVA on 1st May. Page 5 of the presentation has the 4 projects that are mentioned in the news article with metal, timing, cost and C1.
So, I read this in three ways.
a) IVA could sell their 59% holding to OZL, who could then continue to operate the company as a separately listed one on the ASX. (low probability) or OZL could then buy out IVA on the ASX and fully own the assets (much higher probability). OZL has the cash to do the second one, with money left over.
b) OZL does a JV on say Mt Elliot and has, say, an 80% interest. With the option of block caving, it would produce 40,000tpa of copper (at 80% interest)in 2016/17 at good C1 cash cost. OZL has the cash to do this. It also fills the production gap between P Hill open cut and C.
c) OZL buys, say Mt Elliot resource.
Others posters could have more options.
The other interesting comment from the article is that "Reeve said he still expected to seal a deal by mid-2012". I read that to mean by the end of June 30.
HT1
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may be this one, page-4
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