http://www.businessspectator.com.au/bs.nsf/Article/LUNCH-DEALS-pd...

http://www.businessspectator.com.au/bs.nsf/Article/LUNCH-DEALS-pd20090623-TA4UK?OpenDocument

"Indophil Resources

Over to other speculated mining deals, the AFR has reported a rumour that Chinese interests may become interested in Indophil Resources after 20 per cent shareholder and sometime suitor Xstrata turned its focus to Anglo American. Xstrata bought a blocking stake in Indophil and last year, advised by Deutsche Bank, and launched a $426 million cash bid for the company. The move was made as Indophil courted interested from a group of Hong Kong, Filipino, Pakistani and London interests known as the Stanhill consortium and made its own takeover bid for Lion Selection. Lion sold its own 17.8 per cent stake in its predator to Xstrata, which effectively killed both the takeover bid and blocked Stanhill. Xstrata owns the majority of the Tampakan copper project in the Philippines, in which Indophil has a 24.23 per cent stake. To complicate matters further John O'Reilly, a former Lion director, has this month been charged by ASIC for insider trading before the Xstrata move was made. O'Reilly was also a director of Ausenco."