For the sake of fairness, I would point out a few overlooked points in your statement that "IRD have nothing qualitative that stands out compared to CAP". According to IRD's latest presentation:
PEOPLE Jerry Ellis, former Chairman of BHP and former Head of Port Kembla Steelworks.
SHAREHOLDERS The Sentient Group (+$2.75bn under management). Resource focussed private equity fund credited with building Queensland Gas Corp. ($5bn) and Andean Resources ($3.5bn).
Columbia University ($6.5bn), an Ivy League, U.S. institution based in NYC.
JV's IRD has the flexibility to enter into an appropriate J.V. once value is realised. The fact it owns 100% of its flagship program is a positive.
INSTOS (sic) See "shareholders" above
CAP Price at posting:
36.6¢ Sentiment: None Disclosure: Not Held
