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I too are looking for it to bottom and I will pick up a decent amount for the long term portfolio. This is not a trading stock or you may have a heart attack.
disc: shareholder
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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brought another 25,000
well been away for a couple days didn't think I'd see these levels still didn't think it was going drop below 28c still like Dr who states IRN much like PPP has 80mill in the bank 33% with a right to increase to 37.5% in one of the largest untapped Copper gold reserves in the world currently IRN S/P values this at $0 you do the figures IRN gold share 5mill oz alone has a ground value of min 3.5 AUD billion at 700oz aud now add the copper + IRN's other prime tenament = stupidly undervalued stock that has no hedging.
Now who do you ask has a major share of the project......XSTRATA
Xstrata is now the fifth largest diversified metals and mining company in the world, with operations and projects in 18 countries and top five market positions in each of its major commodities.
Last edited by JBmurc; 29-01-2009 at 09:34 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Member
If Xstrata were to make another take over bid, from what I read on HC we would be looking at around a 1st of March onwards as they have to wait 6 months before after their initial offer?
This sound right to you guys?
Any thoughts also on if they will put in a much lower bid now that the share price has dropped to where it currently is and hope that shareholders take what seems like a good price in the current climate?
edit// after reading this, we may be waiting quite some time for a new offer :/
http://www.bloomberg.com/apps/news?p...eiE&refer=home
Last edited by marknz88; 29-01-2009 at 10:41 PM.
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My guess is that Alson group and Co will make a bid for the Tampakan asset before Xstrata. I think the Alson group needs the final report before they can secure financing and backers support. The final report will give detailed analysis of the reserve and production costs.
I am just hoping the sp to come down more so that I can get set before any corporate activity announcement.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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Originally Posted by Dr_Who
My guess is that Alson group and Co will make a bid for the Tampakan asset before Xstrata. I think the Alson group needs the final report before they can secure financing and backers support. The final report will give detailed analysis of the reserve and production costs.
I am just hoping the sp to come down more so that I can get set before any corporate activity announcement.
down more think your being greedy now Dr who we both know IRN are currently at or close to cash backing
IMHO we will get another bid for tampakan but sadly the price will be down abit on the last offer still should be at least 200% higher than the current S/P unless gold goes through $1000oz soon or copper increases alot then we will see more of a biding war develop between the bargin hunters and should see 1.30+
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by JBmurc
down more think your being greedy now Dr who we both know IRN are currently at or close to cash backing
IMHO we will get another bid for tampakan but sadly the price will be down abit on the last offer still should be at least 200% higher than the current S/P unless gold goes through $1000oz soon or copper increases alot then we will see more of a biding war develop between the bargin hunters and should see 1.30+
IRN - Quarterly Activities report
http://www.stocknessmonster.com/news...E=ASX&N=312961
Cash backing of 20c per share or $76.5m
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Very nice to see IRN cash burn rate is only around $2.5-3 million a year.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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Gold is at $940 and copper at $155 making IRN one of the cheapest miners listed. Production cost is only $60 for copper. Gold continues to be strong and Copper has bottomed and recovering very nicely.
Once the Extended Pre-Feasibility Study is finalised, this pup will be taken out by one of the big boys.
"In mid-2008, Indophil completed its own assessment of the project, ahead of the XPFS being completed
by Xstrata-SMI. Indophil’s findings were published in its Target’s Statement of 21 July 2008. Based on an
improved mineral resource – confirmed by Xstrata – of 2.2 billion tonnes, Indophil’s assessment was at
an initial mining and milling rate of 44Mtpa, building to 66Mtpa for an average production over the first
25 years of 300,000tpa of copper and 320,000ozpa of gold. Further, Indophil estimates that the C1 cash
operating cost would be closer to US60c per pound of copper, with a still undetermined molybdenum
credit to be factored into the operating cost estimate."
Last edited by Dr_Who; 13-02-2009 at 05:26 PM.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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IRN starting to move finally today not long till Xstrata will have another chance to up the bid on IRN prime asset ,Glad to be holding should be very postive times ahead
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Last edited by Dr_Who; 17-02-2009 at 10:45 AM.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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