Been tipped this one by a Perth broker who reckons there is big...

Been tipped this one by a Perth broker who reckons there is big re-rating potential post merger. The word is that the buying in IBR is from savvy TMR shareholders who see this as a cheap entry into the story.

The theory is that emerging cashflow from Tamaya's Chile operations (they are unhedged and have their funds in place) will suprise on the upside in 2008, and that this cashflow will help fund the development of a proper gold plant and expansion in IBR's Armenian assets without a big capital raising. If so, the value per share should apparently triple very quickly.

at worst case there is a re-rating for scale and growth, and apparently some offshore funds are accumulating big time while everyone sleeps on this. Is this one for the ASX though? AIm and Toronto seem to like this sort of thing more and its hard to see this staying 100% on the ASX. Leastways, we can all enjoy the ride and re-rating.