Its hard to know really - but the indicative findings that were covered in the roadshow presentation back in Feb say things like "World-class, large scale project with 2.2billion tonnes resource base" and all the usual talking up of the project
But you have to think that the life-of-mine average production of 325,000 tonnes per annum of copper (as per the presentation) is pretty attractive, particularly given coppers run of late.
But hey - I guess we wait. I suppose its not out of the question to think that its not just them reveiwing the report - Xtrata? They did offer $1.28 in June of last year - commodities prices were looking pretty ugly back then too.
IRN Price at posting:
35.0¢ Sentiment: ST Buy Disclosure: Held
