Exco Resources has announced today that it will sell it's Cloncurry copper project to Xstrata for $175mm and plans to return upto $100mm of these funds to shareholders. When I last checked IVA owned around 22% of EXS so approx. $22mm could be coming into IVA. Presumably management were sounded out before EXS made the deal. The funds will no doubt assist our development plans.
ANZ
