To be lodged with ASX soon...I hope.Once the market can see that...

To be lodged with ASX soon...I hope.

Once the market can see that Zijin is moving towards successfully acquiring Indophil shareprice should begin to increase in small increments towards $1.28 bid price.

Zijin already has 18.8% of Indophil. Xstrata holds another 18.76% and has agreed to sell this into the bid at $1.28 once Zijin has acquired 30.2% of Indophil.

The takeover should proceed fairly quickly as Indophil directors have agreed to sell their interests (not sure what % they hold) to Zijin within 14 days of lodgement of the formal takeover bid (which was lodged on 23 December 2009).

Share price appreciation is already starting to happen..with some trades today at $1.235 up 1c from Indophil's close on 31 December.