IRN - Indophil Resources
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Sean K
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chris1983 said:
I can't work out if a 'yes' decision is already factored into the price. Not much unusual volume atm.
And what if they do say 'no'. Does the sp tank?
But why would Xstrata, who are very well cashed up and looking for acquisitions, not take up a resource with 11.6m tns copper and 14.6 m oz gold, even if it is Phillipines?
Sean K
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If they owned 100%, 375m shares x $0.85 = about $320 m market cap.
11.6m tns copper @ $7,470 tn = $8..with lots of zeros.
14.6 m oz gold @ $600 = $87.6 b
The numbers are staggering really. Can that be right?
11.6m tns copper @ $7,470 tn = $8..with lots of zeros.
14.6 m oz gold @ $600 = $87.6 b
The numbers are staggering really. Can that be right?
chris1983 said:
it's a funny one...I think it would tank short term and people would be wondering why Xstrata turned its back on it...but as per the very first post on this stock, it may well be the cheapest option of all time and if IRN had 100% control it would long term be positive, because sooner or later this monster resource will be developed.
I think XStrata will go ahead.
Sean K
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Why would ANYONE be selling IRN when Xstrata are due to make their decision before end of play TOMORROW? Just bizaar.
Sean K
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Expecting a trading halt on this this afternoon, for the Xstrata decision. Waiting, waiting. Nervous, nervous.....
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Must beworking on US of European time. Details of deal or non deal can come anytime. I too expected a trading halt... will wait and see
I'm expecting tha latter. fingers x'ed
I'm expecting tha latter. fingers x'ed
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I emailed the company this afternoon and their reply was "It is fair to say we expect to have something to announce before market opens tomorrow, Wednesday"Here to help
PorscheACE
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Still no news...hmmm
When do you think we will find out the companies decision? Do you think the decision will be announced before the market opens...and if so, is it possible to announce the decision whilst the market is closed???
Interesting...im holding...and will be praying all night for good news!!!...Mysterious times
When do you think we will find out the companies decision? Do you think the decision will be announced before the market opens...and if so, is it possible to announce the decision whilst the market is closed???
Interesting...im holding...and will be praying all night for good news!!!...Mysterious times
Sean K
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Looking forward to tomorrow morning. Just so I am out of my misery!
Sean K
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Ann out and Xstrata have taken the decision to sole fund the project study process and delay their decision possibly out to at the latest Dec 07, but asap.
I'm not sure what this actually entails. A BFS?
This was not the decision I was hoping for. Have no idea how it will effect the sp short term , but perhaps seems likely to delay any 'excitement' about the stock and potential big short term gains, which was what I was looking for.
I'm not sure what this actually entails. A BFS?
This was not the decision I was hoping for. Have no idea how it will effect the sp short term
, but perhaps seems likely to delay any 'excitement' about the stock and potential big short term gains, which was what I was looking for.
Sean K
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Found it.
Next is the 'definitive feasibility study', which is going to cost $30 m (Xstrata I assume now) and will further evaluate mining methods, plant design, engineering, infrastructure etc. It's going to take 18 months.....
Well, time to put this back in the draw.
Next is the 'definitive feasibility study', which is going to cost $30 m (Xstrata I assume now) and will further evaluate mining methods, plant design, engineering, infrastructure etc. It's going to take 18 months.....
Well, time to put this back in the draw.
Guys,
Cheer up! Not as bad as you think!:
Xstrata closer to Tampakan stake
November 1, 2006 - 12:09PM
Mining house Xstrata Copper has moved a step closer to securing an interest in the Tampakan copper and gold project in the Philippines held by Melbourne-based Indophil Resources NL.
Xstrata has elected to sole fund further work on the large Tampakan project to determine whether or not to exercise an option to acquire 62.5 per cent of the project.
Xstrata Copper executive general manager of project development Peter Forrestal said the company was required to fund further work after Indophil completed a $27 million pre-feasibility study.
"Xstrata's decision to sole fund further work was a clear indication of our continuing interest in the Tampakan project," Mr Forrestal said.
"Xstrata Copper is in the process of reviewing the results of the Indophil pre-feasibility study, which confirms Tampakan as a major undeveloped copper-gold deposit."
In March, Xstrata Copper chief financial officer Louis Irvine joined the Indophil board in a move seen by analysts as an indication by the company to exercise its option.
Xstrata has until the end of December to decide whether to exercise or terminate its option.
Tampakan is located on the Philippine island of Mindanao and hosts a resource of 11.6 million tonnes of copper and 14.6 million ounces of gold.
The pre-feasibility study showed that the Tampakan project is robust and is potentially one of the world's outstanding new large-scale copper-gold mines, Indophil said.
The study is based on a mining rate of 30 million tonnes per annum, producing an average of 210,000 tonnes of copper and 218,000 ounces of gold per annum in its first 10 years of operation.
Cheer up! Not as bad as you think!
: Xstrata closer to Tampakan stake
November 1, 2006 - 12:09PM
Mining house Xstrata Copper has moved a step closer to securing an interest in the Tampakan copper and gold project in the Philippines held by Melbourne-based Indophil Resources NL.
Xstrata has elected to sole fund further work on the large Tampakan project to determine whether or not to exercise an option to acquire 62.5 per cent of the project.
Xstrata Copper executive general manager of project development Peter Forrestal said the company was required to fund further work after Indophil completed a $27 million pre-feasibility study.
"Xstrata's decision to sole fund further work was a clear indication of our continuing interest in the Tampakan project," Mr Forrestal said.
"Xstrata Copper is in the process of reviewing the results of the Indophil pre-feasibility study, which confirms Tampakan as a major undeveloped copper-gold deposit."
In March, Xstrata Copper chief financial officer Louis Irvine joined the Indophil board in a move seen by analysts as an indication by the company to exercise its option.
Xstrata has until the end of December to decide whether to exercise or terminate its option.
Tampakan is located on the Philippine island of Mindanao and hosts a resource of 11.6 million tonnes of copper and 14.6 million ounces of gold.
The pre-feasibility study showed that the Tampakan project is robust and is potentially one of the world's outstanding new large-scale copper-gold mines, Indophil said.
The study is based on a mining rate of 30 million tonnes per annum, producing an average of 210,000 tonnes of copper and 218,000 ounces of gold per annum in its first 10 years of operation.
Sean K
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SBBH said:Guys,
Cheer up! Not as bad as you think!
Xstrata closer to Tampakan stake
November 1, 2006 - 12:09PM
Mining house Xstrata Copper has moved a step closer to securing an interest in the Tampakan copper and gold project in the Philippines held by Melbourne-based Indophil Resources NL.
Xstrata has elected to sole fund further work on the large Tampakan project to determine whether or not to exercise an option to acquire 62.5 per cent of the project.
Xstrata Copper executive general manager of project development Peter Forrestal said the company was required to fund further work after Indophil completed a $27 million pre-feasibility study.
"Xstrata's decision to sole fund further work was a clear indication of our continuing interest in the Tampakan project," Mr Forrestal said.
"Xstrata Copper is in the process of reviewing the results of the Indophil pre-feasibility study, which confirms Tampakan as a major undeveloped copper-gold deposit."
In March, Xstrata Copper chief financial officer Louis Irvine joined the Indophil board in a move seen by analysts as an indication by the company to exercise its option.
Xstrata has until the end of December to decide whether to exercise or terminate its option.
Tampakan is located on the Philippine island of Mindanao and hosts a resource of 11.6 million tonnes of copper and 14.6 million ounces of gold.
The pre-feasibility study showed that the Tampakan project is robust and is potentially one of the world's outstanding new large-scale copper-gold mines, Indophil said.
The study is based on a mining rate of 30 million tonnes per annum, producing an average of 210,000 tonnes of copper and 218,000 ounces of gold per annum in its first 10 years of operation.
Good to see this get some airplay.
I read that it was end December 07, though. Another year....
Sean K
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SBBH said:
It's deap in the ann. Last paragraph I think.
Sean K
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Definately for the bottom draw now. Upside would be from the drilling program around Tampakan indicating the area to have even more of the resource, and recovery of copper price (unlikely) and gold (likely). Seems clear Xstrata may be preoccupied with other projects and intigration to have the resources, time and available talent to bed this down as well. I'll look at it again next July...
Xstrata to fund Tampakan
Barry Fitzgerald
November 2, 2006
Other related coverage
XSTRATA is to pick up the running on the Tampakan copper/gold project in the southern Philippines after the project emerged from a pre-feasibility study sporting world-class credentials, with a matching capital and infrastructure cost of $US1.9 billion ($A2.48 billion) to boot.
Under an option agreement covering a 62.5 per cent interest in Tampakan with Melbourne-based Indophil and Filipino interests, Xstrata has decided to sole fund ”” at more than $2 million a month ”” further work ahead of a final option exercise decision before December next year.
The decision to sole fund for an extension of the option period rather than an immediate exercise of the option at a bargain $50 million did not surprise the market as Xstrata is busy integrating the nickel and copper assets it acquired on its recent acquisition of Canada's Falconbridge.
Should Xstrata eventually exercise the option as expected, Indophil would be left with a 32.5 per cent interest and Alsons Corp with 5 per cent. Tampakan contains 11.6 million tonnes of copper and 14.6 million ounces of gold, plus molybdenum.
But developing Tampakan as an annual producer of more than 210,000 tonnes of copper and 218,000 ounces of gold will not come cheap, with initial capital cost estimates of more than $US800 million falling victim to the industry-wide surge in costs.
Tampakan's forecast cost is split into $US1.4 billion in direct capital costs and $US500 million in other infrastructure costs at the remote site, with the latter potentially to be undertaken by third parties.
Cash operating costs are estimated at less than US70 ¢ a pound of copper after gold credits. This compares with current spot prices for copper of $US3.30 a pound.
Indophil managing director Tony Robbins said that since completing the pre-feasibility study a month ago, the work program had continued unabated. "We remain on schedule," he said.
The capital cost increase spooked some in the market, with Indophil shares weakening 2 ¢ to 76.5 ¢.
Xstrata executive general manager of project development (copper) Peter Forrestal said the PFS confirmed Tampakan as a major undeveloped copper/gold deposit.
Xstrata to fund Tampakan
Barry Fitzgerald
November 2, 2006
Other related coverage
XSTRATA is to pick up the running on the Tampakan copper/gold project in the southern Philippines after the project emerged from a pre-feasibility study sporting world-class credentials, with a matching capital and infrastructure cost of $US1.9 billion ($A2.48 billion) to boot.
Under an option agreement covering a 62.5 per cent interest in Tampakan with Melbourne-based Indophil and Filipino interests, Xstrata has decided to sole fund ”” at more than $2 million a month ”” further work ahead of a final option exercise decision before December next year.
The decision to sole fund for an extension of the option period rather than an immediate exercise of the option at a bargain $50 million did not surprise the market as Xstrata is busy integrating the nickel and copper assets it acquired on its recent acquisition of Canada's Falconbridge.
Should Xstrata eventually exercise the option as expected, Indophil would be left with a 32.5 per cent interest and Alsons Corp with 5 per cent. Tampakan contains 11.6 million tonnes of copper and 14.6 million ounces of gold, plus molybdenum.
But developing Tampakan as an annual producer of more than 210,000 tonnes of copper and 218,000 ounces of gold will not come cheap, with initial capital cost estimates of more than $US800 million falling victim to the industry-wide surge in costs.
Tampakan's forecast cost is split into $US1.4 billion in direct capital costs and $US500 million in other infrastructure costs at the remote site, with the latter potentially to be undertaken by third parties.
Cash operating costs are estimated at less than US70 ¢ a pound of copper after gold credits. This compares with current spot prices for copper of $US3.30 a pound.
Indophil managing director Tony Robbins said that since completing the pre-feasibility study a month ago, the work program had continued unabated. "We remain on schedule," he said.
The capital cost increase spooked some in the market, with Indophil shares weakening 2 ¢ to 76.5 ¢.
Xstrata executive general manager of project development (copper) Peter Forrestal said the PFS confirmed Tampakan as a major undeveloped copper/gold deposit.
