People at this stage dont realise the significance of this...

People at this stage dont realise the significance of this announement. Xstrata delayed their rights by further extending time to Dec 07. But instead they have exersised their rights now. That means, IRN who have 60mil cash at hand will receive further 60mil from Xstrata as rights sale price. So soon they have $120 mil in cash..now exactly how many explorers have a giant project at advanced stage with Xstrata as a developer and 120mil in cash ??

Tomorrow national papers will be talking up the significance of this deal n watch it fly past $1.

Also, xstrata may get eager n bit outright for IRN...a real possibility according to Gavin Wendt (Fat Prophets)