exm potential takeover target

Takeover target? Why do I ask. Have a look at Ivanhoe Australia's strategic agenda and recent actions. They have already secured a big finger in the pie of Emmerson Resources at Tenant Creek. EXM would logically be next on the menu!

From the IAL's announcement April 09 Link

“The investment in Emmerson Resources is an exciting development for Ivanhoe Australia, providing us with additional opportunities for large iron oxide copper-gold (IOCG) mineral discoveries in a region that, despite its long history of production, remains very under-explored,” Mr Reeve said.

“A key objective in IAL’s [Ivanhoe Australia] involvement in Tennant Creek is to increase our gold resource inventory. With the historical gold/copper ratios in the TCMF being the highest of any known IOCG province, potential discoveries are likely to be gold-rich.”

Doh! EXM is already one major step ahead - based on the last drilling program, these resources have already been confirmed in rich shallow deposits at EXM's Tenant Creek sites, equating so far to a 1,180,000 oz reserve of gold and ca 26,000,000 lbs of copper. JORC will be required. IMO the current drilling program could substantially re-rate EXM and further open the doors to a takeover. Watch this space; it will get interesting!