friedland resigns, page-5

I think that Euan Rocha puts his finger on the problem for all shareholders of Ivanhoe. "Investors in Ivanhoe had hoped that Friedland would replicate his Voisey's Bay success & extract a large premium from Rio. This is now unlikely " (late April in Mineweb). Friedland got over
3 billion dollars for Voisey's Bay nickel mine sale in Labrador Canada to Inco, now owned by Vale Labraador & Newfoundland. .
Both IVA & IVN share prices have plummeted & there is no talk of any great benefit to shareholders. Quite puzzling-
does anyone know what's really going on?

There will be a rights offering." Shareholders may participate on a proportional basis, sbuying additional shares of Ivanhoe Minesat C$8.34.Ivanhoe is in active negotations regarding its other assets-Ivanhoe Australia,
South Gobi coal, other gold mine('stan)." Euan Rocha,Reuters. Sale of?


So the whle thing is up in the air, at a time when the resource stocks have seen a prolonged low period. friedland himself will no doubt do well out of the changeover to Rio. We shareholders wait in hope. Both IVA & IVN holders
have suffered big losses, perhaps IVN the most. Have we been left holding the baby?

Friedland is now free to concentrate on his new baby, Ivanplats, in South Africa & (former Belgian) Congo.
Surely more news isk imminent? I have a bunch of IVN & don.t want any more.