Amazing what a little research reveals.Going back over...

Amazing what a little research reveals.

Going back over Indophil's experience with Xstrata taking up an option it held on the Tampakan copper project in the Philipines, makes me hope that the option over Roseby does not transpire.

In 2006, Xstrata exercised their option for a 62.5% stake in Tampakan with Indophil, an option they had acquired by takeover of Mt Isa Mines in 2000. At the time Indophil estimated commencement of production would probably commence in 2011. Latest estimates are for production in 2019. The delays to the project being many, however it would seem that doing business with Xstrata has it's problems, especially when in a minority jv.

I was able to access announcements through the ASX website, back to 2002, and it's worth going over in my Opinion.

The most noteworthy aspect being that IRN current sp, with a 34% stake in a $5.9 billion copper/gold/molybdenum project, with $240 million cash backing for a 0.20 cents sp, are currently sitting at 22.5 cents.

Does that remind you of anyone else in the same predicament.