Sin-Tang deal to take a placement in EXS and work with EXS to fund and develop the Cloncurry project does not preclude Xstrata from dealing. This is a very smart move by management. But they will now have to fly over the top with a much better deal or make a bid + move fast.
It is also interesting to note that Ivanhoe Australia have announced they are raising $213m and it is not out of the question they could have a swing given Robert Freidlands bullish view on copper.
EXS Price at posting:
32.0¢ Sentiment: ST Buy Disclosure: Held
