from shaws morning notes, page-23

asf, I think Jako is referring to confirmation from the chart (not from an announcement).

Thanks for that graph Jako.

I am a bit confused about a couple of assertions made by Shaws in their report and appreciate any insights:

- firstly, they say that IVA's comment about not deciding how they will vote until they see the full size and timing of the proposed capital distribution "may imply that not all of the proposed $100m return to shareholders may be paid in one tranche...". Why does this imply it won't get paid in one tranche? I don't read that into it at all.

- secondly, they assert that EXS had to choose between selling CCP to Xstrata and merging all of the Qld Cu/Au tenements into IVA. But IVA said in their statement that they had proposed acquiring direct interests in some of the exploration tenements. My point here is that IVA should be just as interested in EXS's assets now as they were prior to the CCP sale. Or am I missing something here?