Indophil Resources - IRN

[shasta]

Thanks for that post Dr. I have been watching this thread and doing a bit of research on IRN. Was unsure of the political situation and associated risk there and the post is clear on its presence - which is good to know.

Cheers,

I-man

IRN has plenty of cash & a JV with a major in Xstrata

I used to hold LST, who did well out of IRN, but there relationships was fragmented to say the least.

I've got half an eye on them, just have better targets in the resource sector in mind.

[Dr_Who]

ASX Release ASX Code: IRN
19 February 2009

Tampakan’s world-class status confirmed

Indophil Resources has today released the preliminary findings of a near two-year Extended
Pre-Feasibility Study (XPFS) into the viability of the Tampakan Copper-Gold Project,
located in the southern Philippines. Aspects of the XPFS have not been finalised.

Indicative findings, derived from the Executive Summary that forms part of a 27 volume
XPFS delivered by project manager Xstrata Copper, include:

• Confirmation of a world-class, large-scale project with a 2.2 billion tonnes mineral
resource base containing an estimated initial 1.4 billion tonnes of mill feed.
• A proposed Stage One mining and milling rate of 44 million tonnes per annum (Mtpa),
leading into a Stage Two rate of 66Mtpa after three years. This Stage Two rate is
more than double the rate proposed in the September 2006 Pre-Feasibility Study
(PFS) conducted by Indophil.
• Life-of-mine average production of 325,000 tonnes per annum (tpa) of copper
(contained in concentrate) peaking at more than 400,000tpa; 310,000 ounces per
annum of gold on average; and still undefined but significant production of
molybdenum.
• An initial milling recovery rate averaging 85% for copper and 62% for gold, with scope
for improvement.
• A concentrate grade of more than 35% copper.
• A highly-attractive C1 operating cost base of less than US60c per pound of copper
after gold credits (but still not factoring in molybdenum credits).

Indophil is confident that estimates published in its 21 July 2008 Target’s Statement –
including capital and operating costs – remain broadly applicable.
Richard Laufmann, Indophil’s CEO and MD said: “These indicative findings confirm the
world-class, long-life attributes of the Tampakan deposit. In our view, Tampakan is one of
the most attractive near-term new copper developments in the world.”
“At Indophil’s current share price, this values our stake in the project at around 0.4 of one
US cent per pound of copper in the ground. This is a fraction of the value historically
ascribed to major copper deposit transactions, and is reinforced by the range of US5.5c to
6.0c per pound of copper placed on Indophil’s stake in Tampakan by the independent
expert in Indophil’s 21 July 2008 Target’s Statement. The current valuation in relation to
Indophil’s share price is, by any measure, an extremely low figure,” he said.

To date, Sagittarius Mines Inc. (SMI), in concert with its majority owner Xstrata Copper, has
been unable to finalise all aspects of the study. Indophil will release further information upon
receipt and review of the final report.

In order to ensure that the project progresses in a timely and cost-competitive manner
which protects and maximises the value of Indophil’s stake in Tampakan, Indophil will
appoint its own global engineering house to review the XPFS results, and generate a scope
and price for the Bankable Feasibility Study.

SMI’s project partners include Xstrata Copper (62.5%) and Indophil Resources NL (34.23%)
with the remainder held by Philippine-based Alsons Corporation. SMI operates the
Tampakan project’s Financial and Technical Assistance Agreement as contractor to the
Government of the Philippines for the benefit of the partners and the people of the
Philippines.

[impacman]

Thanks to you both for the info and sharing your views. I hadn't picked up that Alson was trying a T/O as well - I had only got to the Xstrata attempt and that seems to have dominated the company T/O news in the last quarter of 2008. IRN has definitely has caught my interest though and your last post Dr about the XPFS does nothing to dampen it. Thanks again.

Cheers.

[JBmurc]

- 62.50% Xstrata

- 34.23% Indophil Resources NL

- 3.27% Alsons Corporation

An agreement between Indophil and Alsons will result in Indophil pregressively acquiring the A Class shares held by Alsons whereby Indophil will own 37.5% of the A Class shares at the commencement of production.

wonder when Xstrarta will make their move on IRN share of the world class project
soon while theres still mass fear in the market place or plan to wait it out to Copper prices regain their luster once more ethierway they will want it sooner or later I'm happy to add another 12,800 shares to my holding at 24.5c

[Dr_Who]

I still think Alson will make a move before Xstrata. Alson will take out Tampakan before product which would not trigger the option IRN has on Alson's share. The agreement to acquire Alson's share has been in place since the beginning of this project, nothing new.

I am looking to accumulate more shares at 20 cents.

[JBmurc]

I still think Alson will make a move before Xstrata. Alson will take out Tampakan before product which would not trigger the option IRN has on Alson's share. The agreement to acquire Alson's share has been in place since the beginning of this project, nothing new.

I am looking to accumulate more shares at 20 cents.

Yeah either way IRN should receive a fair price still Alson will only be a minor shareholder of the Xstrata's Tampakan project thats if they offer a better price than Xstrata to control the lot

[JBmurc]

Copper up 3.4% Gold strong -IRN 25c fair value $1.50+

just checkout who holds most of IRN only 22.19% outside the top 20 holders Now that alone shows the value of the stock when it's mostly held for the long term

just checkout the chart most of the volume has been low with only two days out of the last 6months at alittle over 5mill with most under 1mill shares changing hands with total shares at 345mill est. it's really only been the smaller holders selling IRN cheap mum&dad investors needing to raise cash to pay bills etc..



Twenty largest shareholders
Listed Ordinary Shares
Number of
Holders
Ordinary Shares %
Xstrata Queensland Limited 78,594,711 19.99
National Nominees Limited 41,052,796 10.44
CitiCorp Nominees Pty Limited 35,754,140 9.09
Auselect Limited 26,853,206 6.83
ANZ Nominees Limited (Cash Income A/C) 23,219,671 5.91
HSBC Custody Nominees (Australia) Limited – A/C 3 21,102,564 5.37
Zero Nominees Pty Ltd 12,254,157 3.12
Alsons Corporation 11,100,000 2.82
HSBC Custody Nominees (Australia) Limited – A/C 2 10,772,428 2.74
JP Morgan Nominees Australia Limited 9,937,175 2.53
HSBC Custody Nominees (Australia) Limited – GSCO -EC A 5,981,589 1.52
HSBC Custody Nominees (Australia) Limited 5,131,488 1.31
Southcot Mining Corporation 4,629,630 1.18
CitiCorp Nominees Pty Ltd (Cwlth Bank Off Super A/C) 3,795,489 0.97
Indophil Employee Share Plan Pty Ltd 3,277,493 0.83
Khalon Pty Limited 3,103,205 0.79
UBS Nominees Pty Ltd 2,980,910 0.76
Alsons Development & Investment Corporation 2,476,900 0.63
Haustella Pty Ltd 2,132,105 0.54
Ardrilt Investments Pty Ltd 1,747,317 0.44
Total 305,896,974 77.81

[impacman]

Have had an order in for 50,000 @23c for last three days - think I have missed it this time. Might just go in at 25c and be done with it. Intend to hold 100,000. Just not sure that the bear is gone so doing it in traunches.

[JBmurc]

Have had an order in for 50,000 @23c for last three days - think I have missed it this time. Might just go in at 25c and be done with it. Intend to hold 100,000. Just not sure that the bear is gone so doing it in traunches.

When you think that most of the top 20 paid a hell of alot more than 25c a couple cents here or their wont matter much once it's over $1
As for Dr whos IRN at 20c prob as much chance as the USD gaining over the short-term with a trillion new USD being made out of thin-air

[impacman]

When you think that most of the top 20 paid a hell of alot more than 25c a couple cents here or their wont matter much once it's over $1
As for Dr whos IRN at 20c prob as much chance as the USD gaining over the short-term with a trillion new USD being made out of thin-air

You are right and I have changed order to 26c. Hopefully that will do it.