IMO the study meets expectations and should provide IVA with good exposure to upside in the Mo Price (it reached $40 + pre GFC) and any exploration upside. A 30 month time to first production would mean no cash flow until say the end of 2012. At current cash burn rates + Merlin capital requirements, IVA will need to raise 500m+ to keep their head above water until 2012. I would expect some corporate activity in the near term.
Also, does anyone know what happened to the Mt Elliot resource upgrade?
IVA Price at posting:
$3.36 Sentiment: None Disclosure: Not Held
