" Gladiator fights Rio for Mongolian Prize " - Chanticleer in Weekend Australian Financial Review pages 64,61.
""Rio is 10 times bigger than... Ivanhoe Mines, but those who know Friedland reckon he has outmanoeuvred his jv partner & will make one of the biggest financial killings of his career.....
The battle is not one-sided. He is pitted against one of the smartest strategic thinkers in Rio, Phil Mitchell, who spearheaded the defence war room against the BHP takeover bid. A banker said he would have his work cut out for him trying to stay two or three steps ahead of Friedland, who is a master.....
Rio holds some cards in its favour,( control committee, poison pill objections,better financial position).
Friedland has provided plenty of capital for mines that were orphaned or abandoned... A good example is ... Cloncurry... being financed & developed by Ivanhoe Australia, an associate of Ivanhoe Mines..... Peter Reeve, who runs Ivanhoe Australia, says"Friedland is a great human being".....
One of the greatest killings Friedland ever made was the sale of the Voisey's Bay nickel project in Canada..... ""
A great full page article (actually two half pages) of interest to anyone who has been following the Turquoise Hill soap opera these many years, as I have. The most amusing part of the review was the photo of a trim,fit 60 year old Friedland at the top of the executive stairway, i.e. the man of power, looking like a 30 year old Donald or Keefer Sutherland just about to begin a 24 HOURs struggle. It will be great viewing watching IVN's performance tonight. A few months ago the share price rose from the low to high teens as Rio began to flex its muscles (IVN Canadian) and in the last 48 hours the price has risen sharply into the low twenties. Read the AFR for full story. Thanks to a previous poster who mentioned the parent company but I was unable to access the article correctly.
IVA Price at posting:
$2.83 Sentiment: Hold Disclosure: Held
