$405m for Ivanhoe BARRY FITZGERALD August 11, 2010 IVANHOE Australia (IVA) could attract as much as $405 million in equity funding in the next 13 months for the development of its north Queensland mining interests.
IVA was given something else to think about yesterday when fellow Cloncurry region explorer/developer Exco raised $4.9 million from the placement of 5 per cent of its shares to Singapore-based and Chinese connected Sin-Tang.
IVA is a 20 per cent Exco shareholder.
The deal was the start of a planned broader involvement that could lead to Sin-Tang helping Exco develop its Cloncurry copper project, assuming that Xstrata does not move on Exco first so as to keep its nearby treatment plant full using Exco ore.
EXS Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
