I just had a read of IVA’s March Quarterly report. At the end of...

I just had a read of IVA’s March Quarterly report. At the end of the quarter they had approx. 99M in cash, with predicted net outlay of 67M in the June Quarter. They currently have a number of capital works programs underway so I think they may be facing cash flow issues soon. Given the current macroeconomic climate, they could be ripe for the picking, but the question is would OZL actually want them. Their development options are generally small high cost mines that require trucking to a regional processing facility. Mt Elliot is a large resource but does not seem to be in the same class as Carrepentena. So I don’t think IVA would be the right fit for OZL.