zijin has not lost interest in indophil t/over

http://af.reuters.com/article/metalsNews/idAFL3E7JA1VF20110810

"Chinese gold and copper miner Zijin Mining Group Co Ltd expects gold prices to reach $1,900 per ounce by the end of 2011...Chairman Chen Jinghe said on Wednesday."

...

"Chief Financial Officer Lin Hongying said the company had earmarked 5 billion yuan for the acquisition of gold mines in places such as Australia and central Asia this year. She did not elaborate.

Zijin said in April that it had not lost interest in Australian miner Indophil Resources NL and was watching takeover developments of the junior miner. ($1 = 6.431 yuan)"

My take.

Once the open cut mining ban is repealed/resolved suitors will again emerge. Why would anyone bid now before the open cut mining ban was lifted. I don't think Indophil will ever get to the point of needing to fund its share of the Tampakan developemnt.

From http://www.bworldonline.com/content.php?section=Economy&title=S.-Cotabato-open-pit-ban-review-deemed-not-urgent&id=35975

..."Mr. Pingoy said the province plans to hold a public consultation on the Environmental Impact Assessment (EIA) recently completed by Sagittarius Mines, Inc. (SMI), the company that has the biggest economic stake in this issue.

"British experts will come late August or early September so we can hear an independent or second opinion on the company?s EIA, and which maybe the basis for the SP to decide whether they will review the open-pit ban," he added.