ocean equity report 16 jan 12

In the broker report section of the IOH website is a recent report.
The is a line (as follows)
"The Company has stated it is not looking to
undertake significant capex development expenditure."
that I had not seen 'stated' anywhere explicitly.

Has anyone else seen any announcement that states that IOH are not looking to undertake significant capex development expenditure?

I felt that the wording of AV's last announcement ("a number of commercialisation initiatives being negotiated...") left open the option of actually getting mining - but it appears that this is simply not going to happen.

Oh well, back to the cash cow scenario others have raised in the past where IOH find ore, prove up a resource, de-risk it through metallurgy and studies (and native title deals etc), then sell it to some other entity who sorts out the finance for the actual mining. Not as much Blue Sky in that scenario but I guess we will wait and see.

Happy Australia Day.