yet another theory

I have being thinking about the 10% placement facility over the week-end and would like to put yet another theory out there.
It has been suggested previously that the 10% placement could have some tie up with Vale. If this is the case then I cannot see shareholder approval being obtained as it requires 75% approval from shareholders voting at the meeting. If there is only a 60% participation then the voting intentions of Xstrata would single handedly decide the outcome. I fail to see how they would support a motion to provide a competitor 10% of the company.

I am leaning more towards yet another tenement acquisition. The AGM notice was signed off on 27 September. The day prior Lara Exploration released a statement that Codelco was returning the Curionopolis tenenments to the east of Avanco's Serra Verde and Rio Verde leaases which comprise approx 16,000 hectares. Codelco had previously returned 3 other tenements comprising over 4,00 hectares in Oct 2011. Codelco had previously outlined two extensive copper-gold targets in Osmar and Chico and had carried out some drilling on the Osmar target which had some high grade hits as per the attached plan.