Exerpt from The Australian...

Exerpt from The Australian today:

http://www.theaustralian.com.au/business/opinion/bronte-capital-queries-alinta-energy-bailout/story-fn7rgef9-1226015573409

Goldman Sachs an Indophil adviser?

AS Indophil Resources continues to work out how best to extract maximum value for frustrated shareholders, there is speculation it may add another adviser to work with Gresham Advisory Partners.

Indophil is yet to sign an official mandate but it is understood Goldman Sachs is a strong contender.

The company is continuing discussions with Filipino conglomerate San Miguel following the end of their exclusive negotiation period last month. Other options include seeking potential new buyers and taking a direct and active interest in its Tampakan copper-gold project in The Philippines or a combination of the three.

Indophil has a 37.5 per cent stake in the Tampakan copper-gold project controlled by Xstrata. Moves by some Filipino authorities to ban open-pit mining in the region has created huge uncertainty over the project.

Any deal would be complicated by the fact San Miguel owns a 10.1 per cent stake in Indophil following a $US40 million placement at 86c a share last year.

Indophil has been trying to do a deal for about three years, with the board reluctant to accept less than the $1.28 a share proposed by China's Zijin Mining before it withdrew its bid last year, valuing the company at a touch over $600m.

The shares last closed at 73c.

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